The first tranche of the new €50 billion financial support fund for Ukraine is expected at the beginning of March. Further assistance is conditioned on the progress of reforms in Kyiv. This was stated by European Commissioner for Neighborhood and Enlargement Oliver Varhelyi, Financial Times reports.

"Our goal is the first half of March," he said.

According to him, Ukraine needs help, especially given what is happening in the United States.

"Thus, we will get back on track and help them to cope with their financial difficulties," the European Commissioner added.

Once this payment is made, work will move on to creating a more formalized "money for reforms" plan agreed between Kyiv and Brussels, under which Ukraine will receive the remaining €50 billion in quarterly payments.

"Our funding is not just an aid. Our funding is based on conditions and results. So, in essence, now we need to see a credible plan, a reform plan from Ukraine. In fact, everything is almost ready," Varhelyi said.