EU approves nearly €3bn for Ukraine for implementing 10 reforms under Ukraine Facilit

Ukraine will receive nearly €3 billion in the coming period after the Council of the EU approved the eighth regular tranche under the Ukraine Facility.

Source: a press release by the Council of the EU, as reported by European Pravda

Details: The Council of the EU noted that nearly €800 million of the amount would be provided for the first time through a loan to support Ukraine.

Quote: "The payment approved today reflects Ukraine's successful completion of 10 target steps. Ukraine has met 84 of the 95 target steps required under the Plan to date, representing approximately 88% of the steps due so far."

Details: On 24 September, the Council of the EU also amended the Ukraine Plan to include a voluntary financial contribution from Norway of approximately €92 million in the form of non-repayable assistance.

The Ukraine support mechanism allows EU member states, third countries and international organisations to make voluntary contributions. Sweden has already made additional voluntary contributions totalling more than €253 million over the past year.

It was previously reported which reforms Ukraine had to implement to receive this tranche.

Background:

• On 24 August, Ukraine requested payment of parts of the fifth, seventh and eighth tranches under the Ukraine Plan of the Ukraine Facility mechanism, totalling €3 billion.
• On 30 July, the Council of the EU approved an updated reform plan under the Ukraine Facility, allowing Ukraine to receive €8.3 billion in 2026 to cover budget needs.

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