EU to disburse 4.2 bln euros under Ukraine Facility
BRUSSELS, Aug. 6 (Xinhua) -- The European Union (EU) is ready to disburse 4.2 billion euros (4.6 billion U.S. dollars) to Ukraine after the EU deemed the country's reform efforts satisfactory, the Council of the EU said on Tuesday.
According to a press release, the council gave its green light to the first tranche of regular payments of grants and loans to Ukraine under the EU's Ukraine Facility.
The conditions and reforms have been met, the council said. The reforms cover public financial management, governance of state-owned enterprises, business environment, energy and demining.
The Ukraine Facility, from which the funds will be released, entered into force in March 2024. It foresees up to 50 billion euros of financial support for the 2024-2027 period. (1 euro = 1.09 U.S. dollar)
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