The European Union will release €3.2 billion ($3.7 billion) in budgetary assistance to Ukraine next month, marking the first disbursement under a massive €90 billion support package approved earlier this year, EU Economy Commissioner Valdis Dombrovskis said this week.
The payment, scheduled for mid-June, will be made under the macro-financial assistance (MFA) component of the wider funding program designed to help Ukraine sustain its economy and war effort amid Russia’s ongoing invasion.
Under the program, around €60 billion can be used for military expenditure, including weapons procurement and defence needs. The remaining amount will go toward Ukraine’s reconstruction efforts and general budgetary support as Kyiv grapples with a balance-of-payments crisis caused by the war.
