The European Commission approved the reform plan of Ukraine, proposed by the government, within the framework of the Ukraine Facility mechanism. This plan envisages conditions for obtaining macro-financial assistance in the amount of 50 billion euros during the years 2024-2027.
According to the European Commission, the proposed reform plan effectively meets the goals of the Ukraine Facility, which provide for key reforms and investments to promote sustainable economic growth and attract investments to increase Ukraine's development potential in the medium and long term.
It is noted that the plan also contains mechanisms to protect the financial interests of the European Union and is the basis for the recovery of Ukraine.
After the evaluation by the European Commission, the reform plan needs to be approved by the EU member states, which takes one month. After that, the European Commission will be able to allocate up to 1.89 billion euros in the form of pre-financing before the start of regular payments.
We will remind that on March 18, the government of Ukraine approved the reform plan for the Ukraine Facility, which is the basis for providing financial support from the European Union during the four-year program with a total volume of 50 billion euros.
The Ukraine Plan includes 69 reforms and 10 investments, divided into 146 qualitative and quantitative indicators covering 15 different areas, including energy, agriculture, transport, green and digital transition, human capital, state-owned enterprises, business environment, public finances and decentralization.
On March 20, the European Commission transferred to Ukraine the first tranche of the Ukraine Facility in the amount of EUR 4.5 billion.
