European Commission disburses additional €1.5 billion in bridge financing to Ukraine
Today, the European Commission disbursed the second instalment of exceptional bridge financing to Ukraine under the Ukraine Facility, amounting to €1.5 billion.
The disbursement follows the positive assessment by the Commission of the agreed policy conditions linked to reforms in the area of judiciary, anti-money laundering, public finance management, business environment and agriculture, as well as reporting requirements to ensure the transparent and efficient use of the funds. A general precondition for the support under the Ukraine Facility is to respect effective democratic mechanisms.
In March, the EU released the first instalment of the exceptional bridge financing, of €4.5 billion. With today’s payment, the EU has disbursed €6 billion to Ukraine to support the country’s macro financial stability since the entry into force of the Ukraine Facility on 1 March.
Total EU support to Ukraine and its people since February 2022 now amounts to €98.5 billion.
“Ukraine is carrying a heavy burden on its shoulders for all of us. The additional €1.5 billion we disburse today will ensure that Ukraine can continue to keep the State and basic services running for the population, while it fights back the aggressor,” Commission President Ursula von der Leyen said.
She added the Commission would work closely with the Ukrainian authorities to ensure the implementation of the Ukraine Plan, which she expected the Council to agree on swiftly.
“This will pave the way for regular and predictable disbursements under the €50 billion Ukraine Facility,” Von der Leyen said.
Find out more
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
