EU Council approves €3.5bn for Ukraine

Flags of Ukraine and the EU, Photo: Getty Images

The Council of the European Union has approved the allocation of €3.5 billion to Ukraine under the Ukraine Facility. Ukraine expects the funds to be disbursed soon.

Prime Minister of Ukraine Denys Shmyhal said this in a statement on Telegram.

He thanked the partners for their assistance to Ukraine.

«This significant resource will help strengthen the resilience of our country. The funds will be used for priority and important budget expenditures for people. We are grateful to our partners for their help, which strengthens us and leads us forward», he said.

In July last year, Ukraine signed an agreement with the European Union to receive grant assistance under the Ukraine Facility in the amount of 5.27 billion euros over the next four years.

We also recall that Ukraine received a tranche of CAD 2.5 billion (1.7 billion dollars) from Canada from the proceeds of frozen Russian assets under the G7 ERA initiative.