EUROPEAN Commission President Ursula von der Leyen announced the release of the first tranche of aid under the Ukraine plan during a meeting with Ukrainian Prime Minister Denys Shmyhal in Brussels.
The Commission disbursed €4.5-B as bridge financing to help maintain the functioning of the state amidst challenging circumstances.
Prime Minister Shmyhal, expressed gratitude for the support, emphasizing the significance of the transitional financing for Ukraine’s stability.
The aid tranche is part of a larger €50-B Ukraine facility, aimed at aiding Ukraine’s recovery, reconstruction, and modernization until 2027.
Now, the EU Commission will quickly review the Ukraine plan and propose it to the EU council. This proposal aims to approve the plan, allowing Kyiv to receive regular payments.
