Ukraine and the EU strengthen oversight of financial assistance: The Ministry of Finance and the Ukraine Facility Audit Board Signed a Memorandum

Today, Minister of Finance of Ukraine Sergii Marchenko met in Kyiv with Chair of the Ukraine Facility Audit Board Marek Belka, Deputy Chair  Gijs De Vries, and Board member Gunnar Wälzholz.

The meeting was also attended by First Deputy Minister of Finance of Ukraine Denys Uliutin.

The European Commission established the Audit Board in June 2024, with a mandate lasting until June 2028. Its mission is to ensure transparency and efficiency in the use of financial assistance under the Ukraine Facility, in cooperation with the Government of Ukraine. The Ukraine Facility provides EUR 50 billion to Ukraine for 2024-2027, of which EUR 38.27 billion is allocated for budgetary support.

In February 2025, the European Commission announced the completion of the formation of the Ukraine Facility Audit Board, appointing three experts in financial oversight and management.

On the Ukrainian side, the Ministry of Finance has been designated as the responsible authority for auditing the implementation of the Ukraine Plan under the Ukraine Facility.

Sergii Marchenko welcomed the Board members on their appointment and expressed Ukraine’s readiness for comprehensive cooperation to ensure a high level of transparency and accountability in the use of EU funds, as well as in implementing the reforms outlined in the Ukraine Plan.

The parties signed a Memorandum, laying the foundation for cooperation between the Ministry of Finance and the Audit Board.

This agreement aims to strengthen financial management and oversight systems while ensuring transparency in the implementation of the Ukraine Facility. It provides for the exchange of information, reports, and other documents, as well as maintaining an active dialogue between institutions.

"International support is a crucial instrument for ensuring financial stability amid the full-scale war. Since February 2022, Ukraine has received substantial budgetary support, particularly from the EU, which reflects the solidarity of the international community with our country and trust in Ukraine’s Government. Transparency and accountability in the use of donor funds are key to our cooperation. The Ministry of Finance remains open to cooperation with European partners and committed to enhancing the efficiency of financial assistance," said Sergii Marchenko.

In 2024, Ukraine has already received EUR 16.1 billion under the Ukraine Facility. In the coming days, the country expects to receive the next tranche of EUR 3.5 billion.