The Council of the European Union has approved a new macro-financial aid package for Ukraine, amounting to nearly €3.5 billion, IPN reports.

According to a press release published on Monday, March 17, on the EU Council's website, this aid represents the third installment of non-repayable loans and grants provided through the Ukraine Support Fund.

With this payment, the total amount of funds allocated to Ukraine since the Fund's launch in 2024 has reached €20 billion.

The EU Council has determined that Ukraine has met the necessary conditions to receive the third tranche of aid through the Ukraine Fund. Specifically, according to the document, these conditions include reforms aimed at expanding the use of renewable energy sources, increasing the autonomy of the energy regulatory authority, simplifying border crossing procedures in line with EU standards, and adopting a strategy for the development of agriculture and rural areas.

In February 2024, the EU Council adopted a decision to establish the Ukraine Assistance Fund, worth €50 billion. These resources are planned for a four-year period (2024–2027) and are intended to be provided to Kyiv as grants and loans. They are meant to cover both Ukraine's short-term needs and the country’s reconstruction and modernization efforts.

Photo source: www.euronews.ro