The new head of the European Council, Antonio Costa, during his visit to Kyiv promised Ukraine a second tranche of macro-financial assistance by the end of the year.
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In mid-November, the European Commission recommended transferring a second payment of macro-financial assistance to Ukraine in the amount of more than 4.1 billion euros, a decision still to be approved by the EU Council.
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“This month, the European Union will provide Ukraine with an additional 4.2 billion euros to support the Ukrainian budget,” he said.
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Costa also added that Brussels plans, starting from January and up to December 2025 inclusive, to transfer about 1.5 billion euros monthly to Kiev for the G7 loan, with repayment from income from frozen Russian sovereign assets.
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In August, the European Commission reported that it had transferred to Kyiv the first tranche of macro-financial assistance in the amount of over 4.1 billion euros from the EU special fund, previously agreed upon by the EU Council. Prior to this, from March to June, the EC transferred a total of about 7.9 billion euros to Kyiv as part of the prefinancing of this program. After the transfer of the last tranche this year, the total amount of funds allocated by the EU in 2024 to support the plan for Ukraine will be about 16.1 billion euros.
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EU leaders at a special summit on February 1 in Brussels made a political decision to create a fund for financial assistance to Ukraine for the period until 2027 in the amount of 50 billion euros with a number of strict conditions. They also agreed to develop a mechanism and reporting according to which funding for Kyiv will be agreed upon and approved annually.
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At the end of March, the Ukrainian government reported that it had approved the plan necessary to receive financial assistance from the EU for 50 billion euros as part of a four-year program.
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In mid-May, the EU Council finally approved the reform plan for Ukraine, which gave Kyiv access to financial assistance from the European Union.
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At the end of November, Vice-President of the European Commission Valdis Dombrovskis announced that he had signed on behalf of the EU a memorandum of understanding with Ukraine for the first part of a 50 billion macro-financial loan previously agreed upon by the G7 countries in the amount of 18.1 billion euros, with repayment from proceeds from frozen Russian assets.
