The European Union has finally adopted the Action Plan proposed by the government of Ukraine, necessary for the implementation of the Ukraine Facility program, which provides for the allocation of €50 billion in macro-financial assistance to Kyiv during 2024-2027.
This was reported by the Prime Minister of Ukraine Denys Shmyhal.
The approval of the Plan allows the Ukraine Facility to be fully launched: Ukraine will receive €1.89 billion in the near future, and Kyiv expects to attract €16 billion within the program this year.
Funds under this program will be allocated in the future, subject to the implementation of agreed steps on reforms and compliance with effective democratic mechanisms.
The plan defines 69 reforms and 10 investments, divided into 146 qualitative and quantitative indicators. The reforms proposed in the Plan for Ukraine cover 15 areas, including energy, agriculture, transport, green and digital transition, human capital, as well as state-owned enterprises, business environment, public finance and decentralization.
They are aimed at strengthening the macroeconomic and financial stability of Ukraine, improving governance, increasing the capacity and efficiency of the administration, accountability and integrity of the judicial system, supporting the development of the private sector and creating an environment conducive to sustainable economic growth.
It is expected that several reforms will help Ukraine on its way to joining the EU by bringing Ukrainian legislation into line with EU norms.