EU to provide EUR 1.5 bln in Ukraine Facility transition funding to Ukraine next week
Ukraine has fulfilled all necessary conditions to receive the second tranche of transitional financing, amounting to EUR 1.5 billion, under the Ukraine Facility, according to Gert Jan Koopman, the Director-General for Neighborhood and Enlargement Negotiations at the European Commission.
Next week, the EU will allocate an additional EUR 1.5 billion, as the EU has assessed that Ukraine meets the requirements for this, he stated during the U.S.-Ukraine Partnership Forum in Washington on Wednesday.
In a reminder, Koopman mentioned that earlier this week, the European Commission approved the Ukraine Plan, which will serve as the basis for distributing EU support to Ukraine until the end of 2027 under the Ukraine Facility.
He said that the EU believes that the underlying plan is robust, as it contributes to economic growth, it is an ambitious reform plan, and the EU has now submitted it for approval to the EU member states. The initial reactions in this regard have been quite positive. So, Koopman foresees no difficulties.
He added that parallel efforts are underway to immediately launch the Ukraine Facility's guarantee instrument, which exceeds EUR 10 billion, to attract private sector participation, potentially mobilizing over EUR 40 billion.
Additionally, Koopman shared that collaboration with international financial institutions is ongoing to mobilize an additional EUR 6 billion in investments and coordinate projects.