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EC disburses another tranche of financing worth €1.5 bln to Kiev

The first instalment of the exceptional bridge financing worth €4.5 bln for the first three months of 2024 was released in March

BRUSSELS, April 24. /TASS/. The European Commission (EC) has disbursed another tranche of exceptional bridge financing in the amount of 1.5 bln euro to Ukraine as part of a 50 bln euro program for the period until 2027.

"The Commission has disbursed the second instalment of exceptional bridge financing to Ukraine under the Ukraine Facility, amounting to €1.5 billion," the statement reads.

The first instalment of the exceptional bridge financing worth €4.5 bln for the first three months of 2024 was released in March. "With today's payment, the EU has disbursed €6 billion to Ukraine to support the country's macro financial stability since the entry into force of the Ukraine Facility on 1 March. Total EU support to Ukraine and its people since February 2022 now amounts to €98.5 billion," the EC said.

The European Union’s program to support Kiev foresees up to €50 billion of stable financing to support Ukraine's recovery, reconstruction, and modernization for the period 2024 to 2027. However, the rate of disbursement of those funds (1.5 bln euro per month) will result in a situation where funds will be spent by September 2026.

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