Ukraine expects to receive the first tranche of €4.5 billion from the EU in March under the Ukraine Facility programme.

Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy, referred to the approval of the Ukraine Facility decision in the European Council as a "powerful signal". The next step will be to define the final terms of the programme through a trialogue involving the European Council, the European Commission, and the European Parliament.

The final regulation is expected to be adopted by the European Parliament during the plenary session scheduled for 26-29 February 2024.

"We expect to receive the first payment of €4.5 billion in March. Currently, the government is working on the corresponding agreement for transitional financing in collaboration with European partners. We are grateful to our allies for their assistance and trust in Ukraine," noted Svyrydenko.

Support under the Ukraine Facility programme will be provided quarterly based on the fulfilment of specified criteria outlined in the plan for implementing the envisaged reforms.

At the extraordinary summit on 1 February, EU leaders overcame long-standing resistance from Hungary and agreed to allocate a multi-year macro-financial assistance package to Ukraine in the amount of €50 billion.

Orbán sought a compromise from Brussels that would grant him the ability to block assistance annually.

However, media reports that the compromise reached with Orbán does not grant Hungary the right to veto funding for Ukraine annually.