Ukraine could receive €9.1 billion from EU as early as June
The European Commission has said that the European Union plans to transfer €9.1 billion in financial assistance to Ukraine in June. Of this amount, €5.9 billion is intended for defence needs, while another €3.2 billion will be allocated as budget support.
When asked by journalists about the timing of the first transfers under the EU's €90 billion assistance package, European Commission spokesperson Balazs Ujvari said it was not yet possible to give a precise date.
"Now, as I said, there are still a few procedure and technical steps to be completed, notably on the Ukrainian side. [...] Then on the other hand, as I say, we have to verify if the conditions that are set out in the MOU and that are linked to the first disbursement under the macro-financial assistance programme if they are completed or not, so we would have to do that verification work first and then in light of this we can then determine when the first disbursement is good to go," the spokesperson said.
He clarified that the EU plans to transfer a total of €9.1 billion in June.
"Part of this will be for defence, so €5.9 and €3.2 under the macro-financial assistance programme in the form of budget support and how this will be structured exactly that I cannot tell you yet as well, but we are looking to disburse €9.1 billion in June, so still within the second quarter," Ujvari added.
According to European Pravda's sources, the first tranche of macro-financial assistance for Ukraine's budget under the €90 billion loan programme, amounting to €3.2 billion, is expected to arrive around mid-June.
On the morning of 28 May, Ukraine's parliament approved the draft law on the Loan Agreement and Memorandum of Understanding that will enable Ukraine to receive €90 billion in financial assistance from the EU.
Prior to that, it was also reported that Ukraine must implement a number of reforms to receive part of the budget support under the EU's €90 billion loan. These requirements will be based on elements of a plan known unofficially as the "10-point Kachka-Kos plan", one of which provides for the adoption of an Anti-Corruption Strategy.
The reforms concern the rule of law and anti-corruption measures, in which Ukraine is currently not demonstrating sufficient progress.