Espreso. Global

Ukrainian government adopts €50 Billion Ukraine Facility plan from EU

18 March, 2024 Monday
14:50

Ukrainian Cabinet of Ministers has approved a plan for the Ukraine Facility program, which provides financial support to Ukraine from the European Union totaling €50 billion

Ukrainian Prime Minister Denys Shmyhal announced this.

The plan includes structural reforms aligned with over 100 quarterly indicators. It serves as the foundation for the European Union's financial support to Ukraine for the years 2024-2027 totaling €50 billion under the Ukraine Facility program.

"These are European approaches to public administration reform, the fight against corruption, and economic and sectoral reforms in various areas, from energy to agriculture. In addition, the document outlines cross-cutting areas such as green transition, digitalization, and European integration," Shmyhal said.

The Prime Minister added that the plan was developed together with European partners to bring Ukraine's membership in the EU closer. According to Shmyhal, the document will be submitted to the European Commission for consideration "in the near future."

"Thanks to the implementation of the reforms of the Ukraine Facility plan, Ukraine will be able to receive about €16 billion this year," the Prime Minister added.

 
  • On December 29 last year, the Cabinet of Ministers of Ukraine approved a draft plan for the Ukraine Facility to be submitted to the European Commission.
  • On January 11, EU ambassadors approved a mandate to negotiate with the European Parliament on the creation of the Ukraine Facility, a program to support Ukraine in 2024-2027.

  • On February 28, the Council of the European Union approved the launch of the Ukraine Facility with a total amount of EUR 50 billion for 2024-2027.


 
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