Full draft of €50 billion program for Ukraine prepared by EU, Minister of Economy says
Yulia Svyrydenko, First Deputy Prime Minister of Ukraine, Minister of Economy of Ukraine (Vitalii Nosach, RBC-Ukraine)
The European Union has finalized a comprehensive draft of the Ukraine Facility program, earmarking €50 billion in support for Ukraine. The text is currently under discussion for approval, announces Ukraine's First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko.
"Full draft of the program (Ukraine Facility - Ed.) is already prepared, and currently, there is a trialogue among the European Council, the European Commission, and the European Parliament for its final approval," Svyrydenko reveals.
According to her, the plan includes 144 indicators, of which Ukraine aims to achieve 45 by 2024.
The allocation of funds will proceed through three components:
- €39 billion - direct budget support
- €8 billion - technical assistance
- €3 billion - covering interest on loans under the program
In 2024, Ukraine expects to receive the initial €18 billion.
€50 billion for Ukraine
On February 1, during the summit, EU leaders supported providing €50 billion in financial assistance to Ukraine until 2027.
The transfer of funds will occur under the Ukraine Facility program. Additionally, Ukraine commits to implementing a series of structural changes to ensure a continuous flow of funds.
To make the program effective, it still needs approval from EU agencies.
Ukraine expects to receive the first funds in March 2024, as recently stated by Svyrydenko.
