The European Commission (EC) has just transferred the first regular payment worth nearly 4.2 billion Euros to Ukraine under the 50 billion Euro support program for this Eastern European country, called the Ukraine Facility.

The information was given by the EC in a statement on August 13. The executive body of the European Union (EU) reiterated that after examining the payment request submitted by Ukraine, the EU Council confirmed the EC's assessment that Ukraine had satisfactorily fulfilled nine reform indicators related to the first quarter payment.

These conditions – including public finance management, state-owned enterprise management, business environment, energy and mine clearance – are outlined in the Ukraine Plan.

The payment Ukraine received on August 13 follows initial payments made under the Ukraine Facility, namely €6 billion in bridging financing and €1.9 billion in advance financing, and is a testament to the rapid implementation of the Ukraine Plan.

Over the 2024-2027 period, up to €50 billion in grants and loans will be provided under the Ukraine Facility, established by the EU in March this year, to support Ukraine’s efforts to maintain macro-financial stability, promote short-term recovery, and rebuild and modernize while implementing key reforms for Kiev’s EU accession path.

Funding to support the Ukraine Plan is contingent on the implementation of quarterly reform and investment indicators previously approved by the EU Council.

Ukrainian Prime Minister Denys Shmyhal confirmed on Telegram on August 13 that Ukraine received 4.2 billion euros from the EU, saying that the government will use the newly disbursed funds for social programs, humanitarian aid and other important budget programs, while military spending will be entirely financed with its own resources.

Ukraine received the first funds without any conditions, while subsequent payments were conditional, according to which Ukraine had to implement a specific reform plan in a number of areas.

"We continue to implement important reforms for our sustainability, development and future. European partners support these efforts. We hope to receive another tranche of support later this year," Prime Minister Shmyhal said.

Minh Duc (According to EU Neighbours East, Ukrainska Pravda, UNN)