On August 6, the EU Council approved an installment of approximately €4.2 billion for Ukraine as part of the Ukraine Relief Program.
According to a press release from the EU Council, the decision was made after confirming that Ukraine had met the necessary conditions and reforms outlined in its plan to receive the funds, which will be disbursed through the Ukraine Relief Plan. These reforms include public financial management, state-owned enterprise governance, business environment improvements, energy, and demining.
The EU Council also emphasized the importance of releasing the funds as quickly as possible, given Ukraine’s challenging fiscal situation.
The Ukraine Plan outlines the country’s goals for recovery, reconstruction, and modernization, along with the reforms planned as part of its EU membership process over the next four years.
In May 2024, the Council concluded that Ukraine’s Plan met the prerequisites for the country to receive up to €50 billion in support under the Ukraine Instrument.
