Sergii Marchenko: In 2024, Ukraine expects to receive more than €11 billion from the EU under the Ukraine Facility

During his working visit to Cernobbio, Italy, Minister of Finance of Ukraine Sergii Marchenko met with European Commissioner for the Economy Paolo Gentiloni.

The parties discussed the cooperation between Ukraine and the EU under the Ukraine Facility and the implementation of reforms by Ukraine as defined in the Ukraine Plan under the Facility. 

Sergii Marchenko expressed his gratitude to the European partners for their comprehensive and rhythmic assistance to Ukraine, as well as their trust in our country as a partner. 

"Even in the context of a full-scale war, the Government of Ukraine is committed to implementing reforms and jointly defined tasks with its partners. The European Union is one of our key partners in political and economic relations and we are committed to expanding economic cooperation which is another step on Ukraine's way to its European future", the Minister of Finance said. 

Since February 2022, the European Union has provided over EUR 30 billion in direct budget support to Ukraine. 

In March 2024, Ukraine received the first tranche of EUR 4.5 billion under the Ukraine Facility Bridge Financing. Ukraine may receive the next tranche of EUR 1.5 billion under the bridge financing in April, based on the results of reforms and a positive assessment by the European Commission. Ukraine has already fulfilled three of the five indicators. 

Also, over the next three months, the Ministry of Finance of Ukraine has to fulfil three indicators in its area of responsibility to attract further budget support: 

• approval of the digitalisation plan for the State Customs Service of Ukraine (completed);

• approval of the Budget Declaration for 2025-2027;

• approval of the action plan for the implementation of the Roadmap for reforming public investment management.

Meeting all the indicators under the Programme for the first pillar  will allow the Bank to attract budget support of around EUR 4 billion. In total, the Instrument provides EUR 16 billion in 2024.