Ukraine adopted a plan for the Ukraine Facility. This is needed to receive €50 billion from the EU

Liza Brovko

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.

This was reported by the Prime Minister Denys Shmyhal.

The plan includes structural reforms, which correspond 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 this year.

€50 billion for Ukraine

On February 1, EU leaders reached an agreement on the allocation of €50 billion in macro-financial assistance to Ukraine. The program is designed for four years. Ukraine will be able to receive funds for compliance with a number of prerequisites: the continuation of democratic mechanisms, including a multi-party parliamentary system and the rule of law, guaranteeing respect for human rights, in particular minorities.

The conclusions also suggest that EU leaders will debate the program every year, and in two years they can propose to the European Commission a review of the entire multi-annual financial framework.