Commission disburses first €4.5 billion of bridge financing to Ukraine under the Ukraine Facility
Today, the Commission has disbursed the first €4.5 billion of support under the EU’s new Ukraine Facility. Through this exceptional bridge financing, the EU is providing much needed liquidity to Ukraine, to help finance the functioning of the state, such as public wages, pensions, and the provision of basic public services, so that the country can continue focusing efforts on winning the war. Ukraine has also submitted its official Ukraine Plan that paves the way for regular payments under the Facility conditioned to the reform and investment agenda of Ukraine for the next four years. As a next step, the Commission will now swiftly assess the Ukraine Plan and submit a proposal for a Council implementing decision to approve it as conditions to access regular payments.
Following her meeting with Ukrainian Primer minister Denys Shmyhal, Commission President Ursula von der Leyen said: “Today is a good day for Ukraine, as more EU funds are flowing to meet urgent needs. The Commission has just paid to Ukraine a first tranche of 4.5 billion Euro from the Facility. This payment, in the form of bridge financing, is crucial to help Ukraine maintain the functioning of the State in this difficult moment. Ukraine has also delivered the Ukraine Plan. This success is all the more impressive, since it is only 19 days ago that the Ukraine Facility entered into force. The plan maps out how Ukraine can get back to rapid growth, and start to recover the losses that the war has caused. With it, Ukraine has laid a solid foundation for the EU’s support, right up until the end of 2027.”
The European Union has demonstrated unprecedented unity in condemning Russia’s actions and in providing support to Ukraine. So far, the EU, its Member States and European financial institutions have together provided wide-ranging support to Ukraine and its people, amounting to almost €98 billion since the start of Russia’s war of aggression. This includes support made available to cater of the needs of around 4 million Ukrainian refugees in EU Member States. This also includes the first payment of €4.5 billion under the Ukraine Facility, which entered into force on 1 March 2024, one month after the political agreement on the MFF revision reached in the special European Council meeting of 1 February 2024.