Yuriy Draganchuk: Support for Ukraine should be part of the next 7-year financial plan of the EU

Deputy Minister of Finance for European Integration Yuriy Draganchuk took part in the 10th meeting of the EU-Ukraine Association Council as a member of the Ukrainian delegation headed by Prime Minister of Ukraine Denys Shmyhal in Brussels. 

In his speech, he emphasized the EU's leadership in supporting Ukraine and thanked the representatives of European countries for their solidarity with the Ukrainian people since the beginning of the full-scale invasion of russia. 

Military, political, financial and humanitarian support from partners has allowed Ukraine to effectively resist the enemy with superior resources for more than three years.

“The European Union is one of the key donors of direct budget support to Ukraine. Concessional loans and grants allow Ukraine to maintain macroeconomic stability, providing all social expenditures in the face of a full-scale russian invasion. Since 2022, the total amount of funding from the EU has already exceeded EUR 50 billion. We are grateful for such strong support,” said Yuriy Draganchuk. 

The Ukraine Facility, launched in 2024, is another systemic solution of the European Union to respond to the economic and financial challenges faced by Ukraine due to the ongoing war.

“Thanks to the Ukraine Facility, Ukraine has already received EUR 19.6 billion for the State Budget. The Government of Ukraine is committed to the reform agenda under the facility and expects to attract the full amount of funding provided in 2025. This is EUR 9 billion in addition to the EUR 3.5 billion already received,” said the Deputy Minister of Finance of Ukraine.

In his speech, Yuriy Draganchuk paid special attention to the European Union's support for the G7 ERA Loans initiative in the amount of USD 50 billion, which are secured by the revenues from frozen russian assets. On April 9, the day of the EU-Ukraine Association Council meeting, Ukraine received a EUR 1 billion tranche under the ERA. In total, this year Ukraine has already received EUR 5 billion out of the planned EUR 18.1 billion for 2025. 

He also emphasized the need to create a legal mechanism for the full confiscation of such assets.

“In the context of a full-scale war, Ukraine is implementing key reforms and continuing its path to European integration. The issue of economic sustainability in 2026 should remain a common strategic priority for Ukraine and its partners. The economic recovery will require long-term financial solutions, in particular, Ukraine's integration into the EU's Multiannual Financial Framework (MFF) for 2028-2034,” said Yuriy Draganchuk, Deputy Minister of Finance of Ukraine for European Integration.

MFF (Multiannual Financial Framework) is a budget planning tool with clearly defined EU political priorities. Ukraine's integration into the EU's MFF will create new, long-term financial support mechanisms, ensure investments in critical infrastructure, and introduce a system of own resources in Ukraine, which is the basis for member states' contributions to the EU budget.