EU ambassadors support plan for Ukraine Facility

Ambassadors of EU member states have supported the Ukraine Facility Plan, agreeing with the positive assessment of the document proposed by the European Commission, the Ukrainian Economy Ministry said in a statement.

Now, the implementation decision to approve the Plan is to be adopted at a meeting of the EU Council on May 14. The relevant documents between Ukraine and the European Union are also expected to be signed in the near future to fully launch the program.

According to Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine, Ukraine is already demonstrating progress in achieving the reforms set out in the plan.

«We have fulfilled 12 out of 36 indicators envisaged for 2024. The fulfillment of five indicators in the first quarter allowed us to receive €6 billion of financial support in March and April. And our early work on the implementation of the Plan and a steady course of positive government changes will allow us to attract another €10 billion of support this year,» she said.

According to preliminary estimates, Ukraine is to receive €16 billion in 2025, €7.25 billion in 2026, €1.2 billion in 2027, and €1.32 billion in January 2028 for meeting the indicators for the fourth quarter of 2027.

On April 15 this year, the European Commission approved the Ukraine Facility Plan and proposed that the EU Council adopt the document. The Ukraine Facility was approved on 1 March and provides stable funding of up to €50 billion in grants and loans to support the recovery, reconstruction and modernization of Ukraine for 2024-2027.

As GMK Center reported earlier, the EU has created the Ukraine Investment Framework, which is a financial instrument and an integral component of the €50 billion Ukraine Facility. It is designed to stimulate public and private investment for the recovery and reconstruction of Ukraine.