Uncover what's happening in the territories under Russian occupation
WATCH NOW
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…

News Feed

12:22 AM

Zelensky urges allies to increase pressure on North Korea.

Two North Korean brigades of up to 6,000 personnel each are currently undergoing training in Russia, Zelensky said in his evening address, citing military intelligence reports. "We expect a firm, concrete response from the world."
5:34 PM

Ukraine's Prosecutor General Kostin resigns.

"I am grateful to the president of Ukraine and Ukraine's Verkhovna Rada for their trust. But in this situation, I believe it is right for me to resign from the post of prosecutor general," he said.
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.