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Ukraine passes EU-demanded reforms, unlocks € 3.883 bn aid

Par :Yuri Zoria

EU Commission aims to send €3bn annually for Ukraine from frozen Russian assets

Ukraine will receive €3.883 billion from the European Union in July under the Ukraine Facility after passing a key reform demanded by Brussels, according to Ukraine’s envoy to the EU, cited by RFI.

The Ukraine Facility is the European Union’s financial assistance program for Ukraine. Amid the ongoing Russo-Ukrainian war, it supports the implementation of reforms aimed at driving economic recovery, fostering development, and advancing Ukraine’s integration into the EU.

Ukrainian parliament backs ARMA reform

On 18 June, the Verkhovna Rada adopted a bill to reform the Asset Recovery and Management Agency (ARMA), a body responsible for identifying, seizing, and managing assets obtained through criminal means. A total of 253 Ukrainian lawmakers supported the legislation. The reform was a prerequisite for unlocking additional EU financial support.

Funding increase tied to legislative progress

Ukraine’s representative to the EU, Vsevolod Chentsov, told RFI that the law enabled Ukraine to increase its request for the next installment of funding under the Ukraine Facility.

“This allowed us to increase our request for the next tranche under the financial instrument for Ukraine, the Ukraine Facility, to €3.883 billion,” Chentsov stated.

Brussels responds to reform efforts

The reform led to a €600 million increase in the amount of the upcoming tranche, according to Chentsov. The European Union is set to deliver the funds in July. Kyiv receives financing under the Ukraine Facility in stages, with each tranche contingent upon progress in EU-related reforms.

 

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