The Council of the European Union has decided to provide Ukraine with the seventh tranche of financial support under the Ukraine Facility program. The volume of new financing will amount to almost 2.8 billion euros.

This was reported on the website of the Council of the European Union. The message notes that the allocation of funds was made possible due to Ukraine fulfilling most of the necessary conditions stipulated by the program.

The Council of the EU clarified that the amount of the seventh tranche reflects the successful implementation by Ukraine of 11 of the 20 steps that were necessary to receive this stage of financing. These are a number of reforms and commitments that have not yet been implemented.

In addition to fulfilling the current requirements, Ukraine has also implemented some of the conditions stipulated for the next stages of the program ahead of schedule. In particular, the country has already completed two steps required for the eighth tranche, as well as two more steps for the ninth tranche of the Ukraine Facility.

The European Union emphasized that, in accordance with the new methodology approved by the European Commission, Ukraine will for the first time receive compensation for the early fulfillment of part of its obligations. This should be an additional incentive to accelerate reforms and implement the agreed changes.

The Ukraine Facility program is one of the key instruments of long-term support to Ukraine by the European Union. It provides for the allocation of more than 50 billion euros in the form of grants and loans in the period from 2024 to 2027.

Funds under this program are directed to support the recovery, reconstruction and modernization of Ukraine. In particular, the funding should help rebuild infrastructure, stabilize the economy and implement reforms necessary for the country's further European integration.

The European Union has repeatedly emphasized that the Ukraine Facility is an important element of support for Ukraine in times of war and, at the same time, a tool for preparing the state for future membership in the EU.