EU provides almost €6 billion in budget support to Ukraine

The EU has allocated almost €6 billion in direct budget support for Ukraine

The European Union has allocated another large tranche of direct budgetary assistance to Ukraine totalling almost €6 billion. This was announced by the President of the European Commission Ursula von der Leyen.

According to her, more than €4 billion Ukraine received under the mechanism ERA Loans, more €1.9 billion - as part of the programme Ukraine Facility, which is a key instrument of long-term financial support for our country.

Details of assistance

Under the ERA Loans package, the EU is financing Ukraine's critical budgetary needs, including social spending, payments to internally displaced persons and support for state institutions.

Funds under the Ukraine Facility programme are used to support macro-financial stability, reforms and the modernisation of the Ukrainian economy, including the energy sector and infrastructure rehabilitation.

Von der Leyen stressed that the EU will continue to support Ukraine «as long as it takes».

Context.

The European Union remains Ukraine's largest financial partner. The total amount of assistance under the Ukraine Facility for the period up to 2027 is €50 billion.

The funds provided in the form of direct budget grants and loans allow the Government of Ukraine to maintain macro-financial stability amid a full-scale war and ensure the operation of key public services.