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Kyiv adopts plan for ‘Ukraine Facility,’ structural reforms to be implemented

by Chris York March 18, 2024 4:34 PM 2 min read
Ukrainian Prime Minister Denys Shmyhal (center) meets with Ukraine's Cabinet of Ministers on Feb. 6, 2024 (Shmyhal/Telegram) 
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Ukraine has adopted a plan for a series of reforms that will allow the EU to provide up to €50 billion over the next four years, Prime Minister Denys Shmyhal said on March 18.

In a post on Telegram, Shmyhal said the reforms – part of the Ukraine Facility initiative – would be wide-ranging, covering “public administration, fight against corruption, economic and sectoral reforms in various spheres: from the energy to the agricultural sector.”

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“In addition, the document prescribes cross-cutting directions such as "green" transition, digitalization, European integration,” he added.

The implementation of the reforms will be monitored using more than 100 quarterly indicators.

The EU approved the four-year Ukraine Facility in February, allocating 33 billion euros ($36 billion) in loans and 17 billion euros ($18.6 billion) in grants.

From the overall sum, 2 billion euros ($2.17 billion) are allocated to migration and border management, 7.6 billion euros ($8.2 billion) to neighborhood and international relations, 1.5 billion euros ($1.63 billion) for the European Defense Fund, 2 billion euros ($2.17 billion) for the flexibility instrument, and 1.5 billion ($1.63 billion) for Solidarity and Emergency Aid Reserve.

EU Council gives final approval to 50 billion euros in financing for Ukraine
The EU Council on Feb. 28 approved 50 billion euros ($54 billion) in loans and grants for Kyiv, giving the final go-ahead for the four-year Ukraine Facility tool.

Shmyhal thanked the EU for its “help and solidarity.”

“Thanks to the implementation of the reforms of the Plan for the Ukraine Facility, Ukraine will be able to receive about 16 billion euros this year,” Shmyhal said.

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