EU releases €250m grant to support Ukraine

The European Commission has made the first disbursement of 250 million euros (338 million U.S. dollars) grant assistant to Ukraine, an EU statement said Friday.
This payment is part of the state building contract program signed in Brussels on May 13 after a joint meeting between the European Commission and the Ukrainian government.
"Today's disbursement is one of many steps we are currently making to help the government of Ukraine in addressing the short-term needs as well as preparing for the implementation of the association agreement," European Commissioner for Enlargement and European Neighbourhood Policy Stefan Fule said.
"There is still more to come in terms of financial and other assistance," he added.
EU leaders and interim Ukrainian Prime Minister Arseniy Yatsenyuk signed a political association agreement in Brussels on March.
The state building contract is designed to help Ukraine in the process of transformation and with related reforms.
The overall budget of the contract amounts to 355 million euros, to be disbursed in two tranches.
After Friday's disbursement, the second tranche of 105 million euros will follow in the next months and will be linked to progress in reforms in the areas of anti-corruption, public finance management, civil service, constitutional reform, electoral legislation and justice in Ukraine, the statement said.
The grant is a major deliverable of the 11 billion euros support package to Ukraine, which the European Commission announced on March 5. (1 euro = 1.35 U.S. dollars)