"As we're approaching the 1000th day of Russia's atrocious war, we will help keep the Ukrainian state running while the country fights for survival. We are in it for the long haul," Ursula Von der Leyen said.
Deputy Foreign Minister Yevhen Perebyinis issued a letter to cabinet ministers on Oct. 23 warning that the European Union has notified Ukraine that the next tranche of 4 billion euros ($4.3 billion) from the EU's Ukraine Facility may be delayed until next year unless expected aspects of corruption reforms are completed by the end of this month.
Ukraine has received 4.2 billion euros ($4.6 billion) as part of the EU's four-year financial support program, Prime Minister Denys Shmyhal said on Aug. 13.
The funds will support "Ukraine's macro-financial stability and the functioning of its public administration."
The total budgetary support for Ukraine from the EU so far in 2024 has "reached nearly 8 billion euros ($8.6 billion)," Prime Minister Denys Shmyhal said, adding that there is "more to come."
Editor’s note: This is issue 59 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 3–June 10, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Ukraine will receive 1.5 billion euros ($1.6 billion) in Russian frozen assets revenue in July and 1.9 billion euros ($2 billion) under the Ukraine Facility already this month, European Commission President Ursula von der Leyen said on June 11.
Ukraine's parliament, the Verkhovna Rada, ratified on June 6 the terms for which Kyiv will receive 50 billion euros ($54 billion) in macro-finance support from the EU until 2027, known as the Ukraine Facility.
The approval of the plan will allow the European Commission to disburse up to 1.89 billion euros ($2 billion) in an additional pre-financing tranche until the start of regular payments tied to the implementation of the reforms.
The EU approved the four-year Ukraine Facility in February, allocating 33 billion euros ($35 billion) in loans and 17 billion euros ($18 billion) in grants.
Hungarian Foreign Minister Peter Szijjarto's latest complaint against Ukraine was in relation to allegations that the country was planning to revoke several of the distribution permits for medicine from the Hungarian pharmaceutical company Richter.
The first tranche of 4.5 billion euros ($4.8 billion) was given to Ukraine on March 20.
EU finance ministers will discuss this week a plan and an investment agenda submitted by Kyiv as it seeks to secure 50 billion euros (around $53.7 billion) from the European Union's four-year Ukraine Facility, Reuters reported on April 10, citing sources in the German Finance Ministry.
The following is the March 19, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. As Ukraine runs out of ammunition on the battlefield, the government is betting on the country’s drone
"This is an important step for the implementation of reforms and financial stability on Ukraine's path to the EU," Prime Minister Denys Shmyhal said on X.
Ukraine will receive 4.5 billion euros ($4.9 billion) from the European Union through its four-year Ukraine Facility program next week, Johannes Hahn, European Commissioner for Budget and Administration, announced on March 15.
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