On Wednesday, 24 April, Ukraine received €1.5 billion in transitional funding for the "Ukraine Facility". According to the schedule of payments under the programme proposed by the European Commission to the member states, the state budget should receive €16 billion of financial support from the European Union in 2024. 

The European Commission has positively assessed the implementation of indicators for the €1.5 billion tranche under the transitional financing of the "Ukraine Facility". Thus, Ukraine has successfully implemented 5 indicators:

• Adoption of the National Revenue Strategy for 2024-2030;
• Adoption of amendments to the Law on the Prosecutor's Office and to the laws on strengthening the independence of the Special Anti-Corruption Prosecutor's Office;
• Additional measures to prevent and counteract the illegal income and the financing of terrorism;
• Measures to support the implementation of industrial parks as a tool for attracting investment to the de-occupied territories;
• Alignment of the State Land Cadastre and the State Register of Real Property Rights.

"Transitional funding allows us to get support before the final launch of the "Ukraine Facility". Ukraine has already received €6 billion under the programme in March and April this year. When the Plan for the "Ukraine Facility" will be approved by the EU, we will receive the next disbursement of €1.89 billion of pre-financing in June, and €4.11 billion and €4 billion under the programme in September and November," said Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine.

She added that the European Commission has proposed to the EU Member States to approve an appropriate payment schedule under the "Ukraine Facility".. In particular, the proposed timetable provides for €1.89 billion of pre-financing to be provided upon final approval of the Plan. In the future, funding under the programme will be provided on a quarterly basis for fulfilling the indicators of the Plan for the "Ukraine Facility". 

Thus, according to preliminary calculations, Ukraine should receive € 16 billion in 2024, € 12.5 billion in 2025, €7.25 billion in 2026, €1.2 billion in 2027, and €1.32 billion in January 2028 for meeting the indicators in 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 €50 billion support programme for Ukraine will run from 2024 to 2027 and will include three components:

• The first component is direct support to the state budget – €38.27 billion, including €33 billion in loans and €5.27 billion in grants; 
• The second component is a special investment instrument to cover risks in priority sectors – €6.97 billion;
• The third component is technical support in implementing reforms, as well as covering interest on loans, including those received earlier – €4.76 billion. 

Funding under the first pillar of the programme will be provided for the fulfilment of quarterly indicators 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 approved the Plan for the "Ukraine Facility" on 15 April and invited the EU Council to adopt the document. EU Member States now have one month to adopt the Implementing Decision proposed by the Commission, which will pave the way for the full launch of the "Ukraine Facility" programme.