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Ukraine to receive $1.6 billion from EU next week in second tranche of financial aid

by Chris York and The Kyiv Independent news desk April 17, 2024 10:26 PM 2 min read
The flag of Ukraine and the flag of the EU in Berlin, Germany on April 24, 2023. Photo for illustrative purposes. (Monika Skolimowska/picture alliance via Getty Images)
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A second tranche of EU macro-financial assistance totaling 1.5 billion euros ($1.6 billion) will be given to Ukraine next week, a European Commission official said on April 17.

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.

The first tranche of 4.5 billion euros ($4.8 billion) was given to Ukraine on March 20.

Speaking at the U.S.-Ukraine Partnership Forum in Washington on April 17, Gert-Jan Koopman, the director general of the European Commission for Neighborhood Affairs and Enlargement Negotiations, confirmed the second tranche will arrive next week.

Elsewhere in Washington on April 17, Ukraine's Prime Minister Denys Shmyhal met with U.S. business leaders to discuss continued cooperation and the need for "more support and help to stop the enemy."

The meeting was overshadowed by a Russian missile strike in Chernihiv, which killed at least 17 people. Shymal said this highlighted how vital it is to implement business projects, "namely in the defense industry."

"I thanked American companies for continuing to work and invest in Ukraine," he wrote, adding:  "This helps us to be resilient and continue to fight for our country.

"The (Ukrainian) government, despite the war, continues to implement reforms and transform the country to attract as many investors to projects in Ukraine as possible."

Ukraine Business Roundup — Business & War
The following is the April 16, 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. Russia’s large-scale attacks against Ukraine’s energy system late last week have stoked fears of renewed c…
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