Ukraine will receive the first tranche of the Ukraine Facility program in the amount of EUR 4.5 billion already in March 2024, and the second tranche in the amount of EUR 1.5 billion will arrive in April, said Executive Vice-President of the European Commission Valdis Dombrovskis.

The EU is already finalizing the mechanism to support Ukraine, which is called the Ukraine Facility, Dombrovskis said at a joint briefing with Prime Minister Denys Shmyhal in Kyiv on Friday.

As reported, the European Parliament at the end of February supported the creation of the Ukraine Facility of EUR 50 billion for the period 2024-2027. Its funds will be used to support Ukraine and carry out reforms for the country's future accession to the European Union. The approval of the Fund for Ukraine by the European Parliament now opens the way for the adoption of official regulations by the Council of the EU, which, after publication in the Official Journal of the European Union, will come into force. Further funding for the Ukraine Facility will depend on the implementation of the Ukraine Plan by the Ukrainian side.