€50bn for Ukraine: EU expects to start disbursements in March

Ursula von der Leyen, President of the European Commission, has said the EU is eager to start disbursements of funds allocated by the €50 billion Ukraine Facility programme agreed upon last week.

The EU Commission president welcomed the political agreement between the EU Council and the European Parliament on allocating €50 billion to Ukraine, hailing it as an essential step forward.

"Europe is true to its word. We will continue to deliver much-needed funding and predictability for our brave partner and aspiring member.

We aim to start payments in March," von der Leyen wrote on Twitter.

Earlier, the Ukrainian government also indicated that Ukraine expects to receive the first tranche of macro-financial support payments from the EU, in the amount of €4.5 billion, under the Ukraine Facility programme in March.

On Thursday, 1 February, EU leaders overcame Hungary's long-standing resistance and reached an agreement on a €50 billion macro-financial assistance programme for Ukraine. The programme provides for four years of funding.

The summit's conclusions state that Ukraine will be able to receive funds if it meets a number of preconditions. It also mentions that EU leaders will hold annual debates on the programme, and in two years, they may propose to the European Commission a review of the entire multi-year financial framework.