European Commission recommends approval of Ukraine's reform plan, unlocking €50 billion aid

Photo: Ursula von der Leyen, head of the European Commission (Getty Images)

The European Commission recommended that the EU Council approve Ukraine’s reform plan. This will allow Ukraine to receive assistance from a €50 billion package, according to Twitter (X) of the President of the European Commission, Ursula von der Leyen.

“Ukraine’s reform & investment strategy offers a solid basis for a more modern, prosperous Ukraine, on its EU path,” wrote von der Leyen.

According to her, today’s approval of the Ukrainian Plan by the European Commission is a significant step forward.

“It paves the way for regular payments under the €50 billion Ukraine Facility,” she noted.

€50 billion for Ukraine

On February 1st of this year, EU leaders at a special summit supported the allocation of €50 billion to Ukraine by 2027. The funds are to be provided under the Ukraine Facility program.

According to the program, Ukraine must meet certain conditions to receive financial assistance from the EU. If this does not happen, the disbursement of funds will be suspended.

On February 28th, the EU Council finally approved the program. This meant that it came into effect, and our country could receive the first funds.

On March 20th, the EU’s chief diplomat, Josep Borrell, announced that the European Commission had disbursed the first tranche of €4.5 billion to Ukraine.

Earlier, sources from RBC-Ukraine reported that the European Commission had agreed to almost double the assistance under the Ukraine Facility in 2024.