Commission disburses additional €1.5 billion in bridge financing to Ukraine

By European Commission

Commission disburses additional €1.5 billion in bridge financing to Ukraine

The Commission has disbursed the second installment of exceptional bridge financing to Ukraine under the Ukraine Facility, amounting to €1.5 billion. The disbursement follows the positive assessment by the Commission of the agreed policy conditions linked to reforms in the area of judiciary, anti-money laundering, public finance management, business environment, and agriculture, as well as reporting requirements to ensure the transparent and efficient use of the funds.

A general precondition for the support under the Ukraine Facility is to respect effective democratic mechanisms.

In March, the Union released the first instalment of the exceptional bridge financing, of €4.5 billion. With the payment, the EU has disbursed €6 billion to Ukraine to support the country’s macro-financial stability since the entry into force of the Ukraine Facility on 1 March. Total EU support to Ukraine and its people since February 2022 amounts to €98.5 billion.

Commission President Ursula von der Leyen said: “Ukraine is carrying a heavy burden on its shoulders for all of us. The additional €1.5 billion we disburse today will ensure that Ukraine can continue to keep the State and basic services running for the population, while it fights back the aggressor. We will work closely with the Ukrainian authorities to ensure the implementation of the Ukraine Plan, which I expect the Council to agree on swiftly. This will pave the way for regular and predictable disbursements under the €50 billion Ukraine Facility. Europe remains united and resolute in its support for Ukraine.”

See also: 🔴 LIVE UPDATES | Humanitarian response to Ukraine crisis