On August 1, the Ukrainian government decided to make changes to Ukraineʼs plan for the Ukraine Facility, a plan under which Ukraine receives European funding.
This was reported by the Minister of Economy Oleksiy Sobolev.
He emphasized that it is time to update the commitments under this plan. In particular, to adapt the deadlines: some of them should be extended, others shortened, as well as to add references to specific acts of EU law and clarify the wording of the steps.
The Minister emphasized that the possibility of amending the plan was discussed with the European Commission from the very beginning. It is provided for by the Regulation on the establishment of the Ukraine Facility.
"It is important that the scope and content of our commitments to European partners remain the same as they were. We will continue to implement the plan in accordance with its updated version. The changes will apply to steps from the third quarter of 2025, so we are already starting to move according to the new schedule. And we will fulfill some commitments faster than we agreed with partners when this plan was initially formed," Sobolev added.
According to him, this new version should be approved by the EU Council by the end of September, and this will complete the formalization of the process.
- The Ukraine Facility is a €50 billion macro-financial assistance package for Ukraine, designed for four years. It was agreed by EU leaders on February 1, 2024. Ukraine will receive the money if it continues democratic reforms, guarantees a multi-party parliamentary system and the rule of law, and respects human rights.
- On July 25, it became known that Ukraine would receive a reduced tranche under the Ukraine Facility program — it had not implemented all the reforms.
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