The EU has postponed the first tranche of aid to Ukraine, worth 90 billion euros
The European Commission has postponed the disbursement of the first tranche under the €90 billion loan program for Ukraine.
The reasons for the delay and the new dates for the disbursement of funds are currently being clarified.
Paula Pinho, a representative of the European Commission, made this statement in response to questions from journalists at a briefing.
When will the funds arrive?
Pinho assured that the EU is not backing out of the payment—but the timeline has shifted.
"We remain committed to making the first disbursement under this package during the second half of this year, and if I may quote the President, she said that we will provide this loan one way or another," the European Commission representative stated.
What has already been done
According to her, part of the preparatory work has already been completed:
A loan to support Ukraine has been established;
Amendments were made to the Ukraine Facility program in February;
A financing strategy has been adopted—it defines the amounts, objectives, and channels for transferring funds.
What remains to be signed
Despite the progress, the EU still needs to prepare three documents:
A Memorandum of Understanding—it will serve as the basis for the macro-financial assistance channel;
An updated Ukraine Plan—the basis for the Ukraine Facility program, through which budgetary support will be provided;
A loan agreement with Ukraine.
Pinyu noted that work on all three documents is ongoing, and contacts with Ukrainian colleagues are maintained on an ongoing basis.
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