Europe Conditions fulfilled: Ukraine to receive new EU billions

Ukraine is soon to receive the first regular payment from the EU's new multi-billion aid program. The country has fulfilled the reform requirements for this, according to the EU Commission responsible for the review. In its view, just under 4.2 billion euros could be paid out.

The reform requirements for the first disbursement reportedly stipulated that the government in Kiev should introduce new laws to enable a more effective fight against tax evasion and economic crime. In addition, principles for the management of state-owned companies had to be adapted and a national energy and climate plan had to be adopted.

EU Commission President Ursula von der Leyen commented that despite all the hardships, Ukraine, which had been attacked by Russia, was pushing ahead with important reforms for its recovery and progress towards the EU. She hopes that the governments of the EU states will now quickly give their necessary approval for the disbursement.

The new EU aid program provides for financial aid of 50 billion euros over a period of four years. 33 billion euros of this is to be paid out as loans, the rest in the form of non-repayable grants. A total of 7.9 billion euros has already been disbursed in the form of bridge financing.

With the financial aid, the EU wants to enable the Ukrainian state to continue paying wages and pensions. In addition, the operation of hospitals, schools and emergency accommodation for resettled people is to be guaranteed. The money can also be used to restore infrastructure destroyed by the Russian war of aggression. This includes power lines, water systems, roads and bridges. Last year, the EU disbursed financial aid amounting to 18 billion euros.

SDA