Ukraine received EUR 4.5 billion from the European Commission

The European Commission has disbursed the first tranche of macro-financial assistance to Ukraine as part of a €50 billion support package.

The announcement was made at a briefing in Brussels following the EU-Ukraine Association Council by EU diplomat Josep Borrell.

He noted that the first tranche, as expected, amounted to €4.5 billion.

«Today we have also made the first disbursement of €4.5 billion under the Ukraine Facility, our €50 billion package to support Ukraine’s recovery, reconstruction, and modernization», — Borrell said.

He also added that tomorrow the European Council will discuss how to speed up Ukraine’s accession to the EU.

As a reminder, on February 27, the European Parliament adopted a previously agreed version of the document introducing a new support mechanism, the €50 billion Ukraine Facility, for four years. The next day, on February 28, it was finally approved by the EU Council.

Ukraine is guaranteed to receive the first two tranches of the Ukraine Facility – €4.5 billion in March and €1.5 billion in April.