Cabinet of Ministers approves reform plan for which Ukraine will receive €50 billion from EU

The government has approved a plan for the Ukraine Facility, the basis for providing financial support from the European Union under a four-year programme totalling €50 billion.

Source: Ukrainian Prime Minister Denys Shmyhal on Telegram, reported by European Pravda

Detail: Shmyhal said that the plan requires structural reforms that correspond to more than 100 quarterly indicators.

"These are European approaches to public administration reform, the fight against corruption, and economic and sector-specific reforms in various areas, from energy to agriculture," he said.

In addition, the document discusses broad goals such as the green transition, digitalisation, and European integration.

Shmyhal said that the plan was developed jointly with European partners. It will soon be submitted to the European Commission for consideration. 

He added that if it successfully implements the reforms in the Ukraine Facility plan, Ukraine will be able to receive about €16 billion this year.

Background:

• Johannes Hahn, European Commissioner for Budget and Administration, announced earlier that Ukraine would receive the first tranche of Ukraine Facility programme payments amounting to €4.5 billion this week.

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