The Cabinet of Ministers approved the plan for the Ukraine Facility program, which is the basis for providing four-year financial support from the European Union for €50 billion.
What is known about the adoption of the Ukraine Facility program
Ukraine's Prime Minister Denys Shmyhal reported that the plan included structural reforms corresponding to more than 100 quarterly indicators.
Among them are European approaches to public administration reform, the fight against corruption, and economic and sectoral reforms in various spheres.
The document also prescribed cross-cutting directions, such as the "green" transition, digitalization, and European integration.
The plan was developed with European partners to bring Ukraine closer to EU membership. It will soon be submitted to the European Commission for consideration.
If Ukraine implements reforms under the Ukraine Facility plan, it will receive 16 billion euros this year.
What is known about the Ukraine Facility program
On February 28, the EU Council finally approved the Ukraine Facility program, under which Ukraine will receive 50 billion euros of long-term loans until 2027.
In addition, on March 12, Ukraine and the EU signed an agreement on transitional financing for Ukraine. The total volume of the provided preferential funds is 6 billion euros.
The first payment in the amount of 4.5 billion euros will reach the state budget of Ukraine already in March without conditions. Ukraine will be able to receive the rest — 1.5 billion euros — in April 2024 after the European Commission evaluates the completed indicators.
