"International support is crucial for ensuring macroeconomic stability and building the foundation for further economic growth. The European Union has been the largest donor of budget support since February 2022, providing more than EUR 31 billion. The implementation of the Ukraine Facility, together with the approval of the Ukraine Plan by the European Commission, will help to cover the urgent budgetary needs in the social sector, as well as the recovery and reconstruction in a timely manner and in full. At the same time, the implementation of structural reforms will contribute to the economic development and European integration of Ukraine," said Minister of Finance of Ukraine Sergii Marchenko.
In March, the State Budget received the first tranche of EUR 4.5 billion. Having implemented all 5 reforms in the areas of public finance management, anti-corruption, and business environment development, Ukraine has attracted a total of EUR 6 billion under the Bridge financing mechanism.
On April 15, the European Commission approved the Ukraine Plan, which includes a specific list of structural reforms and measures that will contribute to the sustainable development of Ukraine's economy, green transition, digital transformation, and European integration. The decision requires final approval by the EU Council. Following the adoption of the Plan, as well as the signing of all international agreements and the completion of domestic procedures, the State Budget is expected to receive EUR 1.9 billion in Pre-financing.
The Ukraine Facility is an instrument that provides for the possibility of Ukraine receiving financial and technical assistance from the EU totalling EUR 50 billion in 2024-2027. Of this amount, EUR 38.27 billion will be allocated for budget support, EUR 6.97 billion for the investment fund, and EUR 4.76 billion for technical and administrative support.
