Ukraine and the European Union signed an agreement on transition financing for Ukraine. The total amount of concessional funds provided is 6 billion euros. This was reported by the Ministry of Finance of Ukraine.
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What is known
It is expected that the first payment in the amount of 4.5 billion euros will arrive in the State Budget of Ukraine in March.
Ukraine will be able to receive the remaining amounts – 1.5 billion euros – in April 2024 after the European Commission assesses the indicators achieved.
“Within the framework of the transition financing mechanism, Ukraine will implement 5 indicators in the areas of public financial management, the fight against corruption, development of the business environment, etc.,” the Ministry of Finance reported.
After the approval of the Ukraine Plan for the Ukraine Facility, it is expected that 1.9 billion euros of unconditional funding will be allocated to the state budget.
Ukraine will receive the rest of the budget support quarterly after achieving the indicators provided for in the Ukraine Plan.
“Together with European partners, we are finalizing the preparation of the Plan for the Ukraine Facility and are preparing for the full launch of the program. We have made significant progress. The signing of the Agreement will allow financing to begin even before the official approval of the Plan and will provide 6 billion euros to cover the current needs of the state budget during March and April of this year,” noted Minister of Economy Yulia Sviridenko.
Remember
< p>50 billion euros within the Ukraine Facility will be allocated to budget support (38.27 billion euros), investment fund (6.97 billion euros), technical and administrative support (4.76 billion euros).
- Budget