EU creates body to monitor funding under Ukraine Facility
Pravda Ukraine
The European Commission has ordered the establishment of the Ukraine Facility Audit Board, a body to monitor EU funding allocated under the mechanism to prevent fraud, corruption, conflicts of interest and irregularities.
Source: Interfax-Ukraine news outlet with reference to the European Commission’s decision of 12 June, published on Monday
Details: The Ukraine Facility Audit Board, as stated in the decision, assesses the systems that Ukraine has in place to prevent, eliminate, report and effectively review, investigate and prosecute possible cases of fraud, corruption, conflict of interest and any other irregularities in relation to any expenditure.
The body will operate until 30 June 2028 and will consist of three members appointed by the European Commission from among EU nationals with proven experience in the field of audit or financial monitoring for a two-year term.
The Audit Board will be based in Brussels but will visit Ukraine at least six times a year. Every three months, it will prepare a report with recommendations on how to improve the management and control of funding under the Ukraine Facility.
Quote: “Information the Board has obtained or has been made aware of on any identified cases of, or serious concerns in relation to, mismanagement of expenditure financed under the Facility shall immediately be shared with the Commission.”
Background: On 6 June, the Verkhovna Rada ratified the agreement with the EU on the so-called Ukraine Facility Plan, which sets out reform commitments for the period until 2027.
On 20 March, the European Commission transferred to Ukraine the first tranche of €4.5 billion under the Ukraine Facility.
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