The European Union disbursed more than 4 billion euros (about $4.7 billion) in financial aid to Ukraine ahead of its 34th Independence Day, underscoring the bloc's continued support for Ukraine amid Russia's full-scale invasion.
"As Ukraine celebrates its 34th Independence Day, the EU sends a clear message: our solidarity with Ukraine is unwavering," said European Commission President Ursula von der Leyen in an official press release published on Aug. 21.
"This new funding underlines our commitment not only to Ukraine's recovery, but to its future as a sovereign and democratic country. Because when Ukraine is strong, Europe is stronger too."
The package includes three billion euros (about $3.5 billion) under the Ukraine Facility and an additional one billion euros (about $1.2 billion) through the European Commission's exceptional Macro-Financial Assistance mechanism.
The Ukraine Facility was approved in February 2024 as a four-year program providing 33 billion euros ($36 billion) in loans and 17 billion euros ($18 billion) in grants to stabilize the Ukrainian economy and support post-war recovery.
In addition to supporting the country's recovery, reconstruction, and modernization, the Ukraine Facility is aimed at supporting reforms necessary for EU accession.
To qualify for the most recent payment under this mechanism, Ukraine successfully implemented reforms related to public administration, public asset management, human capital, green transition, regulation of the digital and agri-food sectors, and management of critical raw materials.
This is notable progress in Ukraine's reform trajectory, particularly after a recent scandal in which the Ukrainian parliament passed — then later reversed — a bill to limit the independence of key anti-corruption institutions.
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