Ukraine Could Receive Another €20 Billion From EU This Year
Ukraine could receive up to €20 billion in additional budget support from the European Union by the end of 2026 if it implements an agreed reform plan, European Commission spokesperson Guillaume Mercier said in Brussels on Sept. 23, UATV English reports. Mercier said European Commissioners Valdis Dombrovskis and Marta Kos sent letters last week to the speaker of Ukraine’s parliament and the prime…
Ukraine stands to receive up to €20 billion in additional budget support from the European Union by the year's end, contingent on the nation's successful implementation of a reform plan, according to European Commission spokesperson Guillaume Mercier. This announcement was made in Brussels on September 23, as reported by UATV English.
Mercier conveyed that European Commissioners Valdis Dombrovskis and Marta Kos had recently sent letters to Ukraine’s parliament speaker and prime minister, underscoring the critical importance of advancing these reforms. The Ukraine Facility, a four-year EU financial instrument, is designed to provide up to €50 billion in support to Ukraine from 2024 to 2027, with fund disbursement tied to progress in reforms.
The reforms encompass the energy sector, the rule of law, and efforts to combat corruption. Should these reforms be completed by 2026, Mercier stated, they could unlock the €20 billion in budget support from the EU. He emphasized that these reforms were previously agreed upon with Ukrainian authorities and ratified by the country’s parliament, making their execution particularly crucial.
In September, the European Commission additionally allocated €3.3 billion to Ukraine for defense procurement, which includes drones and missiles.
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