The EU has approved €4.2 billion in budget aid for Ukraine: what conditions have been met

EU ambassadors have agreed to allocate €4.2 billion in budgetary aid to Ukraine. In the near future, this decision will be approved by the EU Council under a written procedure that does not require additional discussions.

This is stated in a statement by the Hungarian Presidency of the Council of the European Union. "The EU ambassadors have approved the disbursement of a tranche of approximately €4.2 billion from the Ukraine Support Fund," the statement reads.

The next step will be approval by the EU Council under the written procedure. Under the written procedure, the EU Council approves decisions that do not involve discussion.

This financial support is part of the Ukraine Facility program, which provides for the allocation of 50 billion euros to Ukraine over the next four years. The funds will be divided into direct financing(€33 billion) and grant payments(€17 billion), which will include technical support for reforms, loan interest coverage, and risk financing in priority areas.

Earlier, the European Union had preliminarily approved the disbursement of these funds to Ukraine after certain conditions were met, as reported by the Ministry of Finance of Ukraine. The main conditions that Ukraine fulfilled were

• approval of the Budget Declaration for 2025-2027;
• Approval of the action plan for the implementation of the Roadmap for Public Investment Management Reform;
• approval of the Long-Term National Strategic Plan for Digital Development, Digital Transformation and Digitalization of the State Customs Service.

The European Commissionpositively assessed the indicators fulfilled by Ukraine as part of the Ukraine Facility Plan for the second quarter of 2024. This paved the way for the disbursement of €4.2 billion in budget support to Ukraine. "Ukraine has fulfilled nine indicators," the Ministry of Finance said in a statement.

The Ukraine Facility program stipulates that Ukraine must implement 69 reforms in 15 sections to receive full financial support. In particular, the following areas require changes:

• reform of public administration and public money management;
• judicial system, fight against corruption and money laundering
• financial markets;
• management of state assets;
• human capital and business environment;
• regional policy and decentralization;
• energy sector, green transition and environmental protection;
• transportation
• agri-food sector;
• digital transformation.

The European Commission will check progress every three months. If Ukraine fulfills its plans, the EU will transfer a tranche of aid. If not, no funding will be provided.

As OBOZ.UA reported earlier, Ukraine will receive the first 1.5 billion euros from the European Special Fund for Ukraine next week, by the end of July. The tranche will be secured by the proceeds from Russia's seized assets in the EU. The funds will be used to finance the country's defense.

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