EU governments give green light to 4.2 billion euros payout to Ukraine

FILE PHOTO: Ukrainian service personnel use a searchlight as they search for drones in the sky over the city during a Russian drone strike, amid Russia's attack on Ukraine, in Kyiv, Ukraine July 31, 2024. REUTERS/Gleb Garanich/File Photo

Source: REUTERS

European Union governments approved on Tuesday the first regular payment to Ukraine of 4.2 billion euros ($4.58 billion) of the 50 billion euros the EU has set aside as financial support for Kyiv, the governments, called the EU Council, said in a statement.

The money will come in a mix of grants and loans after Ukraine has met the conditions for disbursement that included reforms of public financial management, governance of state-owned enterprises, business environment, energy and de-mining.

The 50 billion euro fund for 2024-2027 was agreed by EU governments in March. So far Ukraine received from it 6 billion euros in bridge financing and 1.9 billion euros in pre-financing.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters