The Ukraine Facility program will be reformatted: Svyrydenko explained why
14 February 22:12
Ukraine plans to reformat the EU aid program, Ukraine Facility, so that its implementation does not depend on votes in the Verkhovna Rada.
According to RBC-Ukraine, this was announced by Ukrainian Prime Minister Yulia Svyrydenko during a conversation with journalists, reports "Komersant Ukrainian".
According to her, the program will be reformatted this year. Ukraine Facility will be made more flexible and focused on government actions rather than parliamentary votes.
“This way, we will not be dependent on voting in the Verkhovna Rada. The government is ready to implement this plan, everyone is interested in it. We have an understanding with the European Commission in this regard,” Svyrydenko emphasized.
What is the Ukraine Facility?
The Ukraine Facility is a specially designed program of financial support for Ukraine from the EU in the amount of €50 billion for the period 2024-2027. It aims to ensure the country’s macroeconomic stability, reconstruction, modernization, and deepening of Ukraine’s European integration.
The main document for receiving funds is the “Ukraine Plan,” which details the list of necessary reforms and indicators. There are almost 150 of these indicators. The implementation of each of them brings Ukraine an average of €350 to €600 million.
At the same time, support is provided only on condition that the agreed reforms are implemented and the principles of democracy and the rule of law are observed. In other words, it depends on the decisions taken by the Ukrainian parliament.
The last tranche from the EU was on December 22, when Ukraine received €2.3 billion in aid. This was already the sixth tranche under the funding program.
