EU Sets Requirements for Ukraine to Receive $27 Billion

The European Commissioners sent a letter to the members of the Ukrainian parliament outlining the laws that need to be adopted in order to receive additional funding of $27 billion for defense. The letter was signed by the European Commissioner for Economy Valdis Dombrovskis and the European Commissioner for Enlargement Olivér Várhelyi. It specifies the deadlines for fulfilling obligations and the amounts of funding that Ukraine will be able to receive. On September 3, the European Commission submitted a document for approval of the eighth tranche of the Ukraine Facility program amounting to approximately €3 billion. Ukraine has fulfilled 5 out of 12 conditions for receiving the second tranche of the Ukraine Support Loan program, among the unmet ones is the draft law on the taxation of parcels worth up to €150. The EU demands explanations regarding Ukraine's budget deficit and does not consider accelerating payments on the €90 billion loan, which will be transferred over two years. Prime Minister Serhiy Korotkyi warned of a critical situation with state finances and the risk of losing part of the $29.5 billion planned international funding.

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