The European Commission on Wednesday approved the disbursement of the first regular tranche of EUR4.2 billion of budget support to Ukraine under the Ukraine Facility and is awaiting a final decision by the EU Council as soon as possible, according to a press release from the European Commission.
“Despite all the difficulties, Ukraine has been implementing key reforms to restore its economy and move forward on its path to the EU. This has allowed the Commission to give the green light for additional payments to Ukraine of almost EUR4.2 billion, and I believe that the Council will quickly give its approval,” the release quotes European Commission President Ursula von der Leyen as saying.
It is specified that, once approved by the Council, this decision will bring the total amount of funds allocated by the EU to Ukraine since the launch of the Ukraine Facility in March this year to EUR 12 billion.
The European Commission recalled that regular quarterly disbursements under the Ukraine Facility are subject to Ukraine’s fulfillment of pre-agreed requirements and ensure the predictability of financial assistance.
It is indicated that, based on the results of the assessment of the disbursement request submitted by Ukraine on July 9, 2024, the Commission concluded that Ukraine has satisfactorily implemented nine reform indicators related to the first regular payment in support of the Ukraine Plan – Ukraine’s reform and investment strategy for the next four years. These reforms cover public financial management, management of state-owned enterprises, business environment, energy, and mine action. In particular, the press release highlights the reform of the Bureau of Economic Security, the adoption of new corporate governance standards for state-owned enterprises, and the National Energy and Climate Plan, which coordinates and plans energy and climate policy until 2030 with specific goals, including a significant reduction in greenhouse gas emissions and an increase in the share of renewable energy sources.
Ukraine Facility is an instrument that provides for the possibility of Ukraine receiving EU financial and technical assistance totaling EUR 50 billion in 2024-2027. Of this amount, EUR 38.27 billion is allocated for budget support (including EUR 5.27 billion in grants), EUR 6.97 billion for the investment fund, and EUR 4.76 billion for technical and administrative support.
The state budget for 2024 has already received EUR 7.9 billion under the Ukraine Facility: EUR 6 billion in two tranches of transitional financing and a tranche of EUR 1.9 billion of unconditional financing.
To receive the next tranches, Ukraine must submit a duly justified request for disbursement on a quarterly basis until the end of 2027. The Commission will then assess whether Ukraine has satisfactorily fulfilled the conditions set out in the Council decision.
Geographical structure of ukraine’s foreign trade (imports) in Jan-Apr 2024, mln USD
Source: Open4Business.com.ua and experts.news
The Life Saving Center Foundation has opened a rehabilitation center Tytanovi Rehab for wounded military personnel in Kiev.
According to the foundation’s press release, the Tytanovi Rehab center was opened at the expense of patrons and sponsors.
It can provide rehabilitation care to 50 veterans at a time.
The center’s partner was the Center for Complex Endoprosthetics, Osteointegration and Bionics.
As reported, earlier BF “Life Saving Center” with the support of the network of laboratories “Eskulab” and the Association of Osteointegrative Prosthetics planned to build a rehabilitation center for military TYTANOVI in Kiev for 50 patients. The project is part of a larger TYTANOVI initiative aimed at creating an all-Ukrainian network of such centers.
Prime Minister Denys Shmyhal has signed an agreement with Belgian Prime Minister Alexander De Kroo to finance EUR 150 million worth of recovery projects in Ukraine.
“In particular, the funds will be used to restore energy and social infrastructure in Kyiv and Chernihiv regions,” Shmyhal wrote on his telegram channel following the online meeting.
According to him, the signed agreement simplifies the implementation of joint programs and projects, and will contribute to the recovery, economic and social development of Ukraine.
Under the agreement, the Belgian development agency Enabel will open a representative office in Ukraine.
Japan plans to provide Ukraine with $3.3bn in support loans using interest from frozen Russian assets, Kyodo has quoted diplomatic sources as saying.
According to the sources, during the summit, G7 members agreed to allocate a total of $50 billion to support Ukraine.
The US and the EU are expected to allocate $20 billion each, while Japan, Britain and Canada will “share” the remaining $10 billion.
The G7 plans to start implementing the project by the end of this year.
The Government of Latvia has approved the allocation of EUR 100 thousand to finance the operation of Ukrainian medical institutions, the Ministry of Foreign Affairs of Latvia reports.
“On July 16, 2024, the government approved a bill submitted by the Ministry of Foreign Affairs on the allocation of financial resources from the State Budget Program “Reserve Fund”, which aims to provide funding in the amount of 100,000 euros for Latvia’s support to the functioning of Ukrainian medical institutions in wartime. By this order of the Cabinet of Ministers, the Ministry of Foreign Affairs is authorized to make a contribution on behalf of Latvia to support the work of Ukrainian medical institutions,” the statement said.
It is noted that the funds will be used to reconstruct medical facilities and supply medical equipment, their operation and treatment of patients. The payment will be made through a single responsible UN agency, such as the World Health Organization or the UN Office for Project Services, or through the Ministry of Health of Ukraine.
“The Ministry of Health of the Republic of Latvia, in close cooperation with the Ministry of Health of Ukraine and embassies, is collecting information on urgently needed medicines, medical devices and equipment, and work is underway to organize the next shipment of donations to Ukrainian medical institutions,” the Foreign Ministry said.
Since the beginning of the Russian invasion, Latvia has been providing Ukraine with medical devices, medicines, ambulances and other medical equipment and materials.
On July 8, 2024, Russia launched a missile strike on Ukraine’s largest children’s hospital, Okhmatdyt, and the ISIDA Women’s Health and Family Planning Center. The strikes injured or killed several patients and doctors of both medical institutions. These attacks have seriously disrupted the operation of medical facilities and put additional strain on other Ukrainian hospitals.
