Ukraine risks losing part of its financial assistance from the European Union for the first time because it is not implementing reforms envisaged by the Ukraine Facility program on time. Two stages related to previous tranches of assistance that Ukraine has already received remain unfulfilled.
This was reported to the European Commission at the request of Radio Liberty.
This is almost €300 million in the fourth tranche and over €380 million in the fifth. The amounts related to these tranches have not been paid.
The fourth tranche includes an unfulfilled item on increasing the number of staff at the High Anti-Corruption Court. The fifth tranche includes an item on adopting legislation to revise judgesʼ declarations of integrity and the procedure for their verification.
The final deadlines to meet these conditions are June 30 and September 29 of this year. The European Commission emphasizes that if Ukraine does not meet the requirements on time, they may apply the procedure for final reduction of payments, which is provided for in the Ukraine Facility regulations.
At the same time, Brussels emphasizes that the Ukraine Facility provides for some flexibility due to the war, and Ukraine is demonstrating significant progress in reforms, despite difficult circumstances.
- The Ukraine Facility is a financial programme of the European Union aimed at supporting Ukraine in the period from 2024 to 2027. Its aim is to contribute to the recovery, reconstruction, modernization and integration of Ukraine into the EU.
- The total amount of financing is up to €50 billion, of which €33 billion is provided in the form of concessional loans and €17 billion in the form of grants.
- Ukraine received the seventh tranche of €2.8 billion on June 8. The funds will be used to finance priority state budget expenditures, including social and humanitarian needs. The total amount of financing under the program has already exceeded €29.4 billion.
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