Cabinet approves allocation of EUR 335 million by EU for recovery and reform

The Cabinet of Ministers has approved a draft agreement on the allocation by the European Commission of EUR 335 million of assistance for recovery and reform. Prime Minister of Ukraine Denys Shmyhal announced this on Telegram, Ukrainian News Agency reports.

"Ukraine will receive EUR 335 million of assistance from the European Commission. Today, they approved an agreement on financing the program "Support of the European Union for Restoration and Reform." Funds will be allocated after it is signed. We will direct them to rebuild infrastructure, in particular energy, to help business, to anti-corruption measures, to protect the environment and digitalization," he said.

Taras Melnychuk, the representative of the Cabinet of Ministers in the Verkhovna Rada, said on a Telegram channel that the signing of this agreement will create legal grounds for attracting EU assistance aimed at supporting Ukraine on its way to EU membership and the implementation of the association agreement, as well as strengthening its stability and ability to respond to the consequences caused by russian military aggression.

Assistance under the agreement will be provided in five priority areas, namely: sustainable, stable and integrated economy; accountable institutions, rule of law and security; environmental protection and climate resilience; sustainable digital transformation; sustainable, gender-equal, fair and inclusive society.

As Ukrainian News Agency earlier reported, in October, Ukraine received the ninth tranche of EUR 1.5 billion in the framework of large-scale macro-financial assistance from the European Union for 2023. According to the current program, in 2023, funding is provided for a total amount of up to EUR 18 billion, the state budget of Ukraine has already received EUR 15 billion of preferential borrowed funds of the macro-financial assistance.

To request a correction, please send an email.