EU provides Ukraine with almost $5 billion aid tranche — Borrell

The European Commission has provided Ukraine with the first tranche of aid totaling EUR 4.5 billio under the Ukraine Facility program, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said during a press conference following the meeting of the EU-Ukraine Association Council on March 20.

The funds will be allocated for the recovery, reconstruction, and modernization of Ukraine, Borrell said.

The European Council will discuss on March 21 how to further speed up Ukraine's accession to the EU, he said.

Ukraine will receive the next tranche of aid in April, said the European Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi.

Read also: Cabinet of Ministers approves plan helping Ukraine receive €50 billion aid

The Ukraine Facility Plan is a technical document required to implement the EU's financial support program for Ukraine.

The European Parliament reportedly approved the regulations of the Ukraine Facility program in February 2024, according to which the amount of EU support for Ukraine in 2024-2027 will amount to $54.4 billion. Of this amount, EUR 38.27 billion ($41.7 billion) will be allocated to support the state budget, EUR 6.97 billion ($7.59 billion) to the investment fund, and EUR 4.76 billion ($5.18 billion) to technical and administrative support.

Read also: European Parliament approves EUR 50 billion ‘long-term funding for Ukraine’

All 27 European Union member states agreed on Feb. 1 to a four-year EUR 50 billion ($54 billion) aid package for Ukraine, previously stalled by Hungary.

The Italian government played a leading role in reaching an agreement for the package, the Italian newspaper Il Giornale earlier reported. Prime Minister Giorgia Meloni was the "main actor" in the negotiations that led to its adoption.

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