The European Council authorized on Monday the third tranche of payments under the Ukraine Facility worth €3.5 billion. The funds, in the form of non-repayable grants and loans, will go toward supporting Ukraine's macro-financial stability and recovery, reconstruction and modernization.
The disbursement was contingent on Kiev implementing steps including increasing the use of renewable energy, simplifying border-crossing procedures in line with EU standards, and continuing work on listing its strategic and critical raw materials. Following the latest payment, the European Union will have sent almost €20 billion to Ukraine from the facility, which allows up to €50 billion of stable financing for the country from 2024 to 2027.
