The Cabinet of Ministers has prepared a reform plan in Ukraine to receive EUR 50 billion from the European Union in 2024-2027. Prime Minister Denys Shmyhal announced this during a government meeting on Friday, November 3, Ukrainian News Agency reports.
"Today we are taking another important step towards Europe. The Government transfers the preliminary draft plan for the Ukraine Facility program to the European Commission. What is Ukraine Facility? This is a program of assistance to Ukraine in the amount of EUR 50 billion for the next 4 years with a focus on budget support. In order to receive funds within the framework of this program, Ukraine will carry out a number of reforms and transformation projects," he said.
Shmyhal stressed that the Ukraine Facility plan is not a general strategy for the economic development of the state, but a list of conditions for receiving assistance from the EU.
He noted that the developments of the government consist of 4 main blocks:
macroeconomic scenarios that include the development of quality recovery institutions;
basic reforms such as public administration reform, public finance management measures, anti-corruption, justice system reform;
economic reforms aimed at improving the business climate, management of state assets, human capital development, regional policy;
development of key sectors of the economy that will help Ukraine to grow now and in the future: energy sector, agricultural sector, logistics, IT, critical materials, processing industry.
The plan also contains three cross-cutting directions: European integration, digital transformation and green transition.
At the same time, Shmyhal noted that today's developments are not yet the final version of the document, this is a preliminary plan for starting consultations with European colleagues, work on it will continue with international partners, civil society and Ukrainian business.
As Ukrainian News Agency earlier reported, in October, the Cabinet of Ministers approved a draft agreement on the allocation of assistance to Ukraine by the European Commission in the amount of EUR 335 million for restoration and reform.
In October, Ukraine received the ninth tranche of EUR 1.5 billion as part of a large-scale macro-financial assistance from the European Union for 2023. This program in 2023 provides for financing with a total volume of up to EUR 18 billion, the state budget of Ukraine has already received EUR 15 billion.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.