Ukrainian government approves draft €50 billion Ukraine Facility plan for submission to European Commission
The Cabinet of Ministers of Ukraine has approved a draft of the Ukraine Facility plan for submission to the European Commission.
Source: Interfax Ukraine, citing Ukraine’s Prime Minister Denys Shmyhal, as reported by European Pravda
Quote: "Today we are approving the draft of the Ukraine Facility plan for submission to the European Commission. Together with business, the public sector, members of parliament, and the regions, we have done a great deal of work to create it. Developments are currently ongoing, on which the European Commission has still to provide comments and suggestions," Shmyhal said at a government session on 29 December.
Shmyhal said the programme’s conditions will be finalised after the Ukraine Facility regulation has been approved by the European Council, which is scheduled to meet on 1 February 2024.
"Approval of the final version of the plan by the European Commission will give Ukraine access to a financial resource of €50 billion over four years, of which €39 billion will be aimed at ensuring macro-financial stability," Shmyhal said.
Background:
- After the December EU summit, leaders of several EU countries said they were confident they would be able to reach an agreement on an €50 billion financial support programme for Ukraine, with Hungary's vote included, in January 2024.
- The European Union will hold a special summit to discuss the allocation of €50 billion in additional assistance to Ukraine over a four-year period on 1 February 2024.
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