Ukraine to receive €6 billion from the EU in March-April 2024

Ukraine to receive €6 billion from the EU in March-April 2024

The a Loan Agreement and a Memorandum on Bridge financing for Ukraine under the European Union's Ukraine Facility for 2024-2027 were signed , which will allow Ukraine to receive EUR 1.5 billion in ...

As First Deputy Prime Minister, Minister of Economy Yulia Svyrydenko reported on Facebook, in addition to her, Finance Minister Serhiy Marchenko and Governor of the National Bank (NBU) Andriy Pyshnyy also signed the documents from the Ukrainian side.

The payment of EUR 4.5 billion to Ukraine later this month was announced on Tuesday by Vice-President of the European Commission Valdis Dombrovskis. "And we expect to make another EUR 1.5 billion payment in April," he said at the ECOFIN press conference.

Pyshnyy on Facebook said that this is a loan on preferential terms with a maximum repayment period of 35 years and the beginning of repayment of the principal debt 10 years after the date of transfer of the tranche amount to the account with the NBU.

Svyrydenko said that to receive this EUR 1.5 billion, Ukraine needs to complete two more steps, which are currently at the development stage. "It is about bringing the State Land Cadastre and the State Register of Real Estate Rights into compliance, as well as measures to support the introduction of industrial parks as a tool for attracting investment to de-occupied territories," she said.

The Ministry of Finance of Ukraine added that after the approval of the Ukraine Plan for Ukraine Facility, it is expected that another EUR 1.9 billion of unconditional funding will be allocated to the state budget, while the rest of the budget support will amount to a total of EUR 30.27 billion, of which EUR 5.27 billion in the form Ukraine will receive grants quarterly after achieving the indicators provided for in the Ukraine Plan.

"We are working closely with the Ukrainian government to finalise the Ukraine Plan. This will be the main tool for implementing the Facility itself, setting out the reform and investment priorities for all donors in the short and medium term," Dombrovskis said.

The Ministry of Finance recalled that EUR 50 billion under the Ukraine Facility will be allocated to budget support (EUR 38.27 billion), an investment fund (EUR 6.97 billion), and technical and administrative support (EUR 4.76 billion).

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