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Brussels Approves €4.2 Billion to Ukraine in First Installment of €50 Billion Aid Package
European Union governments on Tuesday approved the first regular payment to Ukraine of €4.2 billion of the €50 billion the EU has set aside for financial assistance to Kyiv, the EU Council confirmed.
The money will be given to Ukraine in the form of grants and loans once the conditions for disbursement have been met.
These included reforms in public finance management, management of state-owned enterprises, the business environment, energy, and de-mining.
The €50 billion fund for 2024-2027 was agreed by EU governments in March. Ukraine has so far received €6 billion in bridge financing and €1.9 billion in pre-financing.
Even with the latest batch of EU aid to Ukraine, there is no indication yet as to which countries would be willing to contribute to funding Ukraine's eventual reconstruction, the cost of which is estimated at a minimum of €1 trillion, with some saying the amount could easily be twice as high.