Publications fulfilled: Ukraine is to receive new EU billions
Ukraine is to receive the first regular payment from the new billion-euro EU aid program in the near future. The country has met the conditions for this, according to the EU commission in charge of the review. Nearly 4.2 billion Euros could be disbursed.
The conditions for the first payment reportedly included the Ukrainian government in Kiev passing new laws to enable more effective fighting against tax evasion and economic crime. Additionally, principles for the management of state-owned enterprises had to be adapted, and a national energy and climate plan had to be adopted.
European Commission President Ursula von der Leyen commented that, despite all the hardships, Ukraine, which is under attack from Russia, is pushing through important reforms for its recovery and progress towards the EU. She hopes that the EU member states will now quickly grant their necessary approval for the disbursement.
The new EU aid program sees financial aid of 50 billion Euros over a period of four years. 33 billion Euros of this is to be disbursed as loans, while the rest is to be provided as non-repayable grants. So far, 7.9 billion Euros have been disbursed as bridge financing.
With the financial aid, the EU aims to enable the Ukrainian state to continue paying salaries and pensions. The operation of hospitals, schools, and shelters for displaced people is also to be guaranteed. The money can also be used to restore infrastructure damaged by the Russian attack war. This includes power lines, water systems, roads, and bridges. The EU paid out financial aid in the amount of 18 billion Euros last year.
Following the EU commission's approval, upcoming 'Editions' of Ukraine's financial aid from the EU program could significantly increase, potentially exceeding the initial 4.2 billion Euros. Amidst the ongoing 'Ukraine-War' and Russian attacks, securing these 'EU-Billions' is crucial for Ukraine's recovery, as these funds can be utilized to rebuild damaged infrastructure, such as power lines, water systems, and bridges.
