EU approves Ukraine’s plan for Ukraine Facility
Pravda Ukraine
The Council of the European Union finally adopted Ukraine’s plan necessary for the implementation of the Ukraine Facility programme in the amount of €50 billion. This year, the government expects to raise €16 billion.
Source: Denys Shmyhal, Prime Minister of Ukraine
“The plan’s approval allows us to launch the Ukraine Facility fully; our state will receive €1.89 billion of preliminary funding,” Denys Shmyhal said.
Ukraine will receive the rest of the budget support on a quarterly basis after meeting the indicators set out in Ukraine’s plan.
Financial assistance from the EU in 2024 will reach €16 billion, €3 billion of which are grants, according to the Ministry of Finance of Ukraine.
Background:
- The European Parliament approved the regulations of the Ukraine Facility programme in February 2024. According to the approved regulations, the EU support programme for Ukraine in the amount of €50 billion will be valid from 2024 to 2027.
- In April, the European Commission supported the Ukraine Plan reform proposed by the government of Ukraine within the framework of the Ukraine Facility mechanism, which defines the conditions for receiving €50 billion of macro-financial assistance during 2024-2027.
- Ambassadors of EU member states supported the plan for the Ukraine Facility, agreeing with the positive assessment of the document proposed by the European Commission.
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