Today, February 28, the Council of the European Union approved the launch of the Ukraine Facility Instrument with a total volume of 50 billion euros for 2024-2027. This was reported by the press service of the Ministry of Finance of Ukraine.
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Within the Ukraine Facility, during 2024-2027, Ukraine will receive about 39 billion euros of direct budget funding, of which more than 5 billion are grants.
“I am grateful to our partners from the EU for the extremely important decision to support Ukraine. Thanks to the further active work of the Government of Ukraine and representatives of the European Commission within the framework of the Program, Ukraine will confidently approach its European future,” noted Minister of Finance of Ukraine Sergei Marchenko.Also within the framework of the Instrument there is a bridge financing mechanism. , after signing the relevant international agreements, will open the way to obtaining the necessary funding as soon as possible before the start of the Facility. The signing of the Loan Agreement and Memorandum is expected in early March.
The decision of the EU Council is the final point in the creation of the Instrument.
First tranche
Previously, Marchenko said that Ukraine expects to receive the first tranche within the framework of the Ukraine Facility in the amount of 4.5 billion euros already in March.
It is worth noting that the mentioned Plan of Ukraine will become a certain roadmap on the path to Ukraine’s further approach to membership in the EU and economic recovery.
So, the Plan will provide for 15 key areas of reform , including areas within the direct competence of the Ministry of Finance: public financial management, anti-money laundering, financial markets.
Recall
On February 1, 2024, the leaders of the EU member states at the meeting of the European The Council politically supported the launch of the Ukraine Facility Instrument.
At the end of 2023, the Cabinet of Ministers of Ukraine approved the draft Ukraine Facility plan for submission to the European Commission.
On February 26, the European Parliament supported the decision on the Ukraine Facility.< /p>