Ukraine is set to receive close to €4.2 billion in funds after the Council greenlighted the first regular payment of grants and loans under the EU's Ukraine Facility, to support Ukraine's macro-financial stability and the functioning of its public administration, Paralel.Az reporets citing European Council.

In a decision adopted today, the Council concluded that Ukraine had satisfied the necessary conditions and reforms envisaged in the Ukraine Plan for receiving the funds, which will be disbursed from the Ukraine Facility. These reforms cover public financial management, governance of state-owned enterprises, business environment, energy and demining. It also stressed the importance of allocating the money as soon as possible, given the difficult fiscal situation in Ukraine.

The Ukraine Plan sets out Ukraine’s intentions regarding the recovery, reconstruction and modernisation of the country and the reforms it plans to undertake as part of its EU accession process in the next four years.

In May 2024 the Council concluded that the Ukraine Plan fulfilled the preconditions for Ukraine to receive up to €50 billion in support under the Ukraine Facility.