EU approves 4.2 bn euros in aid for Ukraine
The European member states have formally approved the 4.2 billion euro payment of the first tranche of the Ukraine Facility aid package.
The money from the Ukraine Facility should release up to 50 billion euros in European loans and grants from 2024 to 2027. The intention is to structurally help Ukraine with its macro-financial stability, reconstruction and modernisation, provided that it implements structural reforms.
In July, the European Commission said Ukraine had already accomplished several reforms, including reforming its Bureau for Economic Security, so that tax evasion and white-collar crime can be tackled more efficiently. Corporate governance legislation is also becoming more internationalised and Ukraine has adopted its own national energy and climate plan, which includes a major reduction in greenhouse gas emissions by 2030.
© PHOTO FREDERICK FLORIN / AFP
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