KYIV, Aug 6 – Ukraine is set to receive close to EUR 4.2 billion in funds after the Council of the European Union (EU) greenlighted the first regular payment of grants and loans under the EU's Ukraine Facility, according to a Tuesday press release.

"In a decision adopted today, the Council concluded that Ukraine had satisfied the necessary conditions and reforms envisaged in the Ukraine Plan for receiving the funds, which will be disbursed from the Ukraine Facility. These reforms cover public financial management, governance of state-owned enterprises, business environment, energy and demining," the Council said.