EU Council approved Ukraine Plan: Ukraine will receive EUR 1.9 billion under the EU's Ukraine Facility in the nearest future

Today, the EU Economic and Financial Affairs Council approved the Ukraine Plan for 2024-2027 under the EU's Ukraine Facility.

Thus, the procedure for launching direct budget support under the first pillar of the Ukraine Facility is almost complete. In the near future, Ukraine will receive EUR 1.9 billion of pre-financing. The rest of the budget support will be disbursed on a quarterly basis after Ukraine has met the indicators set out in the Ukraine Plan. 

The total financial assistance from the EU in 2024 will reach EUR 16 billion, including EUR 3 billion in grants.

In March-April, the State Budget has already received two tranches of Bridge financing in the amount of EUR 6 billion.

“I am grateful to the European partners for the necessary and timely decision. Ukraine Plan identifies key reforms and investments that will contribute to the country's sustainable economic growth. The implementation of the plan's indicators will also provide a basis for the effective recovery, reconstruction and modernization of Ukraine and bring us closer to EU integration,” said Minister of Finance of Ukraine Sergii Marchenko. 

The document was developed in accordance with the EU standards and requirements in constant consultations with the European Commission. Major part of the envisaged reforms is consistent with other support programs of the IMF and the World Bank, as well as with the European integration tasks, etc. 

The Ministry of Finance of Ukraine is responsible for three areas of the Plan: public finance management, anti-money laundering and financial markets. The Ministry of Finance is also a co-implementer in the areas on state asset management, human capital, business environment, decentralization and regional policy, transport, agri-food sector, and critical materials management.