The Ukrainian government is set to overhaul its EU aid program, known as the Ukraine Facility, to ensure its implementation is not contingent on parliamentary votes. This announcement was made by Prime Minister Yulia Svyrydenko during a recent press briefing.
Svyrydenko indicated that the restructuring of the program will take place this year, aiming to make it more adaptable and focused on government actions rather than legislative approvals. She emphasized, “This way, we will not be dependent on votes in the Verkhovna Rada. The government is prepared to execute this plan, and there is mutual understanding with the European Commission on this matter.”
The Ukraine Facility is a dedicated financial support initiative from the EU, amounting to €50 billion from 2024 to 2027. Its primary objectives include ensuring macroeconomic stability, reconstruction, modernization, and deepening Ukraine’s European integration.
To access these funds, Ukraine must adhere to a detailed reform plan, which outlines nearly 150 specific indicators. Meeting each of these indicators could yield between €350 million and €600 million in support.
However, this assistance is contingent upon the successful implementation of agreed reforms, as well as adherence to democratic principles and the rule of law, making it reliant on decisions made by the Ukrainian parliament.
The last tranche of aid from the EU was received on December 22, amounting to €2.3 billion, marking the sixth installment under the current funding program.
Ukraine is reforming its EU aid program to reduce reliance on parliamentary votes, aiming for a more flexible approach that prioritizes government actions. The Ukraine Facility, worth €50 billion, focuses on macroeconomic stability and reform implementation.