EU lists conditions for supplying Ukraine with funds within €50 billion programme

The European Union has stated that Ukraine would be able to receive funds within the framework of the Ukraine Facility programme for €50 billion, adopted at the summit, if a number of conditions are met.

Source: European Pravda with reference to the results of the EU Summit on 1 February

Quote: "A precondition for the support for Ukraine under the Facility shall be that Ukraine continues to uphold and respect effective democratic mechanisms, including a multi-party parliamentary system, and the rule of law, and to guarantee respect for human rights, including the rights of persons belonging to minorities."

Details: The leaders also stressed that the European Commission and Ukraine must take all the appropriate measures to protect the financial interests of the Union, in particular regarding the prevention, detection and correction of fraud, corruption, conflicts of interests and irregularities.

Background:

• On 1 February the EU leaders countered the long-lasting Hungarian opposition and reached an agreement about the four-year allocation of macro-financial assistance to Ukraine totalling €50 billion.
• Hungarian Prime Minister Viktor Orbán wanted Brussels to agree to a compromise to unblock €50bn in EU funding for Ukraine. According to this compromise, Orbán could block the aid annually.
• Politico reported that the support was approved amid concessions to Orbán, which included a commitment that the European Commission will report annually on the implementation of the aid package and debates on the issue at state leader level. It has also apparently been stipulated that after two years, the European Council can request the European Commission to propose a review of the new budget.

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