Stand behind Ukrainian independent journalism when it’s needed most. Help us reach 20,000 members.

Skip to content
Edit post

European Commission delivers $4.8 billion to Ukraine in first tranche of macro-financial assistance

by Nate Ostiller and The Kyiv Independent news desk March 20, 2024 1:24 PM 1 min read
EU's Foreign Policy Chief Josep Borrell addresses media during a joint press conference with Ukrainian Foreign Minister in Kyiv, on Feb. 7, 2024. (Roman Pilipey/AFP via Getty Images)
This audio is created with AI assistance

The European Commission handed Ukraine 4.5 billion euros ($4.8 billion) in its first tranche of macro-financial assistance on March 20.

The EU approved the four-year Ukraine Facility in February, allocating 33 billion euros ($36 billion) in loans and 17 billion euros ($18.6 billion) in grants.

"Today we also made the first payment of 4.5 billion euros under the Ukraine Facility, our 50 billion euro ($54 billion) package to support the recovery, reconstruction and modernization of Ukraine," said Josep Borrell, the EU's top diplomat.

"And tomorrow, the European Council will discuss how to further speed up Ukraine's accession (to the EU)," he added.

Monthly chart: Ukraine struggles to cover budget needs for 2 months in a row as foreign financing dwindles
The following is chart is based off of data originally published in the Kyiv-based Center of Economic Strategy’s “Ukraine War Economy Tracker.” The Kyiv Independent is republishing with permission. Ukraine’s budget struggles with low amounts of foreign aid in 2024 Ukraine’s state budget finan…

Independent journalism needs a community —
not a paywall.

We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.

Our goal: reach 20,000 members to prove independent journalism can survive without paywalls, billionaires, or compromise. Will you help us do it?

Can we reach 20,000 members?

News Feed

3:08 PM  (Updated: )

US filmmaker injured by fallen balcony in Kyiv.

"While missiles and drones are flying, we are being injured by balconies due to someone's irresponsibility!" Christopher Walters, the injured U.S. filmmaker, said on social media.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.