According to Borrell, the EU financial assistance package is aimed at the restoration, reconstruction and modernization of Ukraine .
The European Commission (EC) sent Ukraine the first tranche of financial assistance from a large support package worth 50 billion euros. The size of the first tranche amounted to 4.5 billion euros.
The head of EU diplomacy, Josep Borrell, announced this at a briefing in Brussels on Wednesday, March 20, following the results of the Ukraine-EU Association Council, European Pravda reports.
“Today we also made the first payment of €4.5 billion under the Ukraine Facility, our €50 billion package to support the recovery, reconstruction and modernization of Ukraine,” Borrell said.
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He added that on March 21, the European Council will discuss how to speed up Ukraine’s accession to the union.
We add that at the end of February the EU Council approved the provision of 50 billion euros of assistance to Ukraine, corresponding to which Ukraine will 2024-2027 will receive about 39 billion euros of direct budget funding, of which more than 5 billion are grants.
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