The European Union (EU) allocated almost 1.9 billion euros this Friday in pre-financing to Kyiv under the Mechanism for Ukraine, the European Commission said in a statement on Friday.
This amount brings to 7.9 billion euros the total EU support already transferred to Ukraine since the mechanism began operating in March.
The new funding, according to the statement, will support Ukraine’s macro-financial stability as the country adopts important long-term structural reforms as part of Ukraine’s reform and growth plan for the next four years, which has been positively assessed by the Commission and the Council of the EU.
This Friday’s pre-financing represents an expectation of 7% of the country’s credit support under the support mechanism to support the implementation of the Ukraine Plan.
The plan envisages reforms and investments that can stimulate sustainable economic growth and attract investment, expanding the country’s growth potential in the medium and long term.
Quarterly payments under the Ukraine Support Mechanism will now be made subject to Kiev’s compliance with previously agreed upon requirements.
Ukraine was captured by Russia on February 24, 2022.
Author: Lusa
Source: CM Jornal
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