BRUSSELS, March 17(Imran Saqib/Correspondent LP) – The Council has greenlit a €3.5 billion payment to Ukraine, marking the third installment of non-repayable grants and loans under the Ukraine Facility. This financial aid is designed to bolster Ukraine’s macro-financial stability and drive its recovery, reconstruction, and modernization efforts.
This milestone brings Ukraine’s total support under the Facility to nearly €20 billion within a year of its inception. The decision followed Ukraine’s fulfillment of 13 specified conditions outlined in the Ukraine Plan, a blueprint guiding the country’s reforms and EU accession strategy.
Key achievements include advancing renewable energy reforms, enhancing the autonomy of the energy regulator, streamlining border-crossing procedures to align with EU standards, formulating an agriculture and rural development strategy, and addressing landmine clearance in agricultural areas. Additionally, Ukraine is progressing toward strategic raw materials identification and utilization.
The Ukraine Plan continues to chart a course for the nation’s recovery while setting the stage for structural reforms over the next four years—an essential step in its journey toward EU membership.
