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European Commission transfers € 4.1 bln tranche from Ukraine Facility to Kiev

The European Commission clarified that the decision to transfer these funds became possible after Kiev fulfilled another package of Brussels' demands on reforming the economy and amending the national legislation

BRUSSELS, December 18. /TASS/. The European Commission (EC) has transferred a € 4.1 bln tranche from the Ukraine Facility to Kiev, bringing the volume of macro-financial lending from this facility to €16.1 bln, the EC press service reported.

The European Commission clarified that the decision to transfer these funds became possible after Kiev fulfilled another package of Brussels' demands on reforming the economy and amending the national legislation, including business regulation aspects, the labor market, the energy market and the fight against corruption. All these provisions were included in the memorandum of understanding with the European Commission.

The Ukraine Facility is a €50 billion macro-financial lending program for Kiev for years 2024 to 2027. Considering that €16.1 billion were spent in the first year alone, there will not be enough money for four years at a comparable rate of lending.

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