EU Council Sanctions Regular Financial Support for Ukraine’s EU Integration and Recovery

by Roman Cheplyk
Tuesday, May 14, 2024
EU Council Sanctions Regular Financial Support for Ukraine’s EU Integration and Recovery

The Council of the European Union has approved a strategic plan for the Ukraine Facility, outlining the framework for recovery, reconstruction, and modernization efforts in Ukraine, along with the country’s reform commitments tied to its EU accession ambitions

This approval sets the stage for regular disbursements from the 50 billion euros designated to assist Ukraine over the coming years, as detailed on the Council's official website.

This significant financial commitment is contingent on Ukraine's continuous adherence to democratic principles, judicial independence, public administration reforms, and anti-corruption measures. The plan outlines a precise schedule for the disbursement of funds, ensuring that by the end of 2027, all qualitative and quantitative objectives are met.

An initial amount of up to €1.89 billion will be released as pre-financing, paving the way for scheduled payments. The Ukraine Facility plan includes 151 indicators across 69 reform areas to be implemented by 2027. These reforms are essential for receiving staggered payments totaling 16 billion euros in 2024, 12.5 billion euros in 2025, 7.2 billion euros in 2026, and smaller sums in 2027 and January 2028.

As of now, Ukraine has successfully met the initial five indicators for the first quarter of the year, securing an advance of 6 billion euros in March and April. For the second quarter, meeting nine additional indicators will qualify Ukraine for a further 4.1 billion euros by September 2024, as reported by the Ukrainian Cabinet of Ministers. This structured financial support is a crucial component of the EU's strategy to assist Ukraine in its long-term recovery and integration into European structures.

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