European Commission Provides First Tranche of €4.5 Billion to Support Ukraine’s Recovery

Simona Mazzeo

Brussels (Brussels Morning) – EU disburses €4.5 billion under Ukraine Facility, aiding recovery efforts. Additional support is planned, reflecting a commitment to Ukraine’s stability and prosperity.

Today, the European Commission has paid the first €4.5 billion of assistance under the EU’s new Ukraine Facility. European Union High Representative for Foreign and Security Policy Josep Borrell has stated that the Commission has paid out the foremost EUR 4.5 billion under the Ukraine Facility for a total of EUR 50 billion.

He was notified on Wednesday in Brussels at a press gathering at the end of the Ukraine-EU Association Council. “Today, we have also made the first payment of EUR 4.5 billion under the Ukraine Facility, our EUR 50 billion package to sustain the recovery, reconstruction and modernization of Ukraine. And tomorrow the EU Council will discuss how to further speed up Ukraine’s accession (to the EU),” Borrell expressed.

In turn, the EU Commissioner for Neighbourhood and Enlargement/Member of the European Commission Olivér Várhelyi said that the second amount will be made in April. Through this remarkable bridge financing, the EU is delivering much-needed liquidity to Ukraine, to help fund the functioning of the state, such as public salaries, pensions, and the provision of basic public benefits, so that the country can persist in focusing efforts on winning the war. 

Ukraine has also raised its official Ukraine Plan that paves the path for regular payments under the Facility prepared for the reform and investment schedule of Ukraine for the next four years. As a next step, the Commission will swiftly assess the Ukraine Plan and submit a proposal for a Council implementing the decision to approve it as conditions to access regular payments.

Following her arrangement with Ukrainian Primer minister Denys Shmyhal, Commission President Ursula von der Leyen stated: “Today is a good day for Ukraine, as more EU funding is flowing to meet critical needs. The Commission has just delivered to Ukraine a first tranche of 4.5 billion euros from the Facility. This payment, in the shape of bridge financing, is crucial to support Ukraine in maintaining the functioning of the State in this challenging moment. Ukraine has also delivered the Ukraine Plan. This victory is all the more remarkable since it was only 19 days ago that the Ukraine Facility penetrated force. The project maps out how Ukraine can get back to quick growth, and start to recover from the collapses that the war has caused. With it, Ukraine has laid a stable foundation for the EU’s support, right up until the end of 2027.”

The EU has demonstrated remarkable unity in condemning Russia’s activities and in providing help to Ukraine. So far, the EU, its Member States and European financial organisations have together delivered wide-ranging aid to Ukraine and its people, amounting to nearly €98 billion since the beginning of Russia’s war of aggression. 

This includes support available to cater to the requirements of around 4 million Ukrainian refugees in EU Member States. This also contains the first payment of €4.5 billion under the Ukraine Facility, which came into force on 1 March 2024, one month after the political consensus on the MFF revision reached at the special European Council summit on 1 February 2024.

The European Commission’s provision of €4.5 billion under the EU’s new Ukraine Facility marks a significant step in supporting Ukraine’s recovery and reconstruction efforts. High Representative Josep Borrell highlighted the importance of this assistance package, emphasizing its role in sustaining Ukraine’s recovery, reconstruction, and modernization. 

Furthermore, Commissioner Olivér Várhelyi confirmed plans for additional payments in April, ensuring ongoing support for Ukraine’s immediate needs. The EU’s commitment to Ukraine’s reform and investment agenda, as outlined in the official Ukraine Plan, underscores a shared vision for Ukraine’s future prosperity. Commission President Ursula von der Leyen hailed these developments as a positive milestone, reflecting the EU’s steadfast support for Ukraine amidst challenging circumstances. The EU’s collective efforts, including extensive financial aid and assistance to Ukrainian refugees, demonstrate a unified response to Russia’s aggression and a commitment to supporting Ukraine’s sovereignty and stability.

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Simona Mazzeo is a journalist at Brussels Morning News. She is covering European Parliament, European Council, European Commission & Italy News. She is a law graduate and lawyer residing in Agropoli, has carved out a multifaceted career dedicated to justice and social advocacy. She actively serves as a delegated councilor for the Equal Opportunities Committee of the Bar Association of Vallo della Lucania, championing fair and equal representation within the legal system. Recognized for her expertise and empathy, Simona is qualified for registration in the list of Special Curators of minors in civil and criminal matters at the Court of Vallo della Lucania, ensuring the rights and interests of vulnerable children are protected throughout legal proceedings. Beyond her legal practice, Simona demonstrates a strong commitment to social causes. She is a founding member of the Free Lawyer Movement, a non-profit organization dedicated to providing legal assistance to those who cannot afford it. Additionally, she leverages her knowledge and passion for social justice as a non-professional journalist, contributing insightful and informative pieces on relevant legal and societal issues. Through her diverse endeavors, Simona Mazzeo exemplifies dedication to legal excellence, social responsibility, and a fervent belief in equal access to justice for all.