Ukraine will receive 4.2 billion euros of macro-financial assistance in the form of grants and loans. It is important to understand that this will take place within the framework of the Ukraine Facility program. At the official level, the decision was approved by the Council of the European Union on August 6.
Points of attention
- The decision to allocate funds will support macro-financial stability and the functioning of public administration in Ukraine.
- The Ukrainian reform plan provides for modernization of management of finances, enterprises, business environment, energy and demining.
- The Council of the EU confirmed the compliance of the Ukrainian plan with the criteria for the allocation of up to 50 billion euros under the Ukraine Facility.
The EU will provide Ukraine with new large-scale financial assistance
The Hungarian Presidency of the Council of the European Union made an official statement on this matter.
In addition, it is emphasized that the decision was made by written procedure.
Today, the Council adopted an implementation decision, allowing the first payment of almost 4.2 billion euros to be made under the Ukraine Facility. This decision supports the macro-financial stability of Ukraine and the functioning of its state administration, the statement says.
The Hungarian Presidency of the Council also draws attention to the fact that, as of today, the Ukrainian authorities have fulfilled the necessary conditions and reforms provided for in the Ukrainian Reform Plan (Ukraine Plan) in order to receive funds.
Ukrainian reform plan. What is it about?
Importantly, these reforms include:
public finance management,
management of state enterprises,
business environment,
energy,
demining
In addition, it is emphasized that the mentioned document describes Ukraine's intentions regarding recovery, reconstruction and modernization, as well as reforms that it plans to implement within the framework of the EU accession process over the next four years.
A few months ago, the Council of the EU officially confirmed that the Ukrainian plan meets the prerequisites necessary for Ukraine to receive up to 50 billion euros of support under the Ukraine Facility.
The Council of the EU also emphasized the importance of allocating funds as soon as possible, taking into account the difficult financial situation in Ukraine.
