On 8 May, the Ambassadors of the Member States of the European Union endorsed the Plan for the Ukraine Facility, agreeing with the positive assessment of the document proposed by the European Commission. The implementing decision approving the Plan is now expected to be taken at the EU Council meeting on 14 May. The relevant documents between Ukraine and the EU are also expected to be signed in the near future to fully launch the programme.

“Ukraine is already showing progress in achieving the reforms set out in the Plan – we have fulfilled 12 out of 36 indicators provided for in 2024. The fulfilment of five indicators in the first quarter allowed us to receive EUR 6 billion of financial support in March and April. And our early work on the implementation of the Plan and a steady course of positive state changes will allow attracting another EUR 10 billion of support this year,” Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine, noted.

According to preliminary estimates, Ukraine is to receive EUR 16 billion in 2024, EUR 12.5 billion in 2025, EUR 7.25 billion in 2026, EUR 1.2 billion in 2027, and EUR 1.32 billion in January 2028 for meeting the indicators for Q4 2027.

As a reminder, in February 2024, the European Parliament approved the regulations of the Ukraine Facility programme. According to the approved regulations, the EU’s EUR 50 billion support programme for Ukraine will run from 2024 to 2027.

Funding under the first pillar of the programme will be provided based on the achievement of quarterly targets set out in the Plan for the Ukraine Facility. The Plan identifies key reforms and areas for investment that can contribute to sustainable economic growth and attract financing to enhance the country’s growth potential in the medium and long term. It also contains a high-quality system of transparency, audit and control, which will also be strengthened as part of the envisaged reforms.

The European Commission endorsed the Plan for the Ukraine Facility on 15 April and proposed the EU Council to adopt the document.