News Feed, Ukraine, European Union, EU aid, Josep Borrell, War

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)

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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.

Authors: Nate Ostiller, The Kyiv Independent news desk

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