Ukraine support: Council approves payment of nearly €3 billion and welcomes Norway’s financial contribution
Ukraine will soon receive nearly €3 billion, following the Council’s approval of the eighth regular disbursement under the EU’s Ukraine Facility. Nearly €800 million of this will be provided for the first time from the Ukraine Support Loan.
The payment approved today reflects Ukraine’s successful completion of ten target steps. Ukraine has met 84 of the 95 target steps required under the Plan to date, representing approximately 88% of the steps due so far.
Funding under the Ukraine Facility is designed to bolster Ukraine’s macro-financial stability, recovery and modernisation, keep its public administration running, and support its reform efforts.
Today the Council also amended the Ukraine Plan to include a welcome voluntary financial contribution from Norway of NOK 1 000 000 000 (approximately € 92 million) in non-repayable support.
The Ukraine Facility allows EU member states, third countries and international organisations to contribute voluntarily. Sweden has already made additional voluntary contributions totalling over €253 million in the past year. Norway is the first non-EU country to contribute to Pillar I of the Ukraine Facility (“Support to Ukraine through the Ukraine Plan”). The UK recently contributed over € 17 million to Pillar II (“Ukraine Investment Framework”).
Background
The Ukraine Facility entered into force on 1 March 2024 and provides over €50 billion in grants and loans to support Ukraine’s recovery, reconstruction, and modernisation through 2027.
Of this total, over €40 billion is earmarked for reforms and investments set out in the Ukraine Plan – Ukraine’s roadmap for recovery and EU accession – with disbursements tied to Ukraine meeting the Plan’s targets.
Once this eighth disbursement has been made, Ukraine will have received over €32 billion under the Ukraine Facility since mid-2024.