This month, 1,000 people chose to support the Kyiv Independent. Can we count on you, too?
Become a member
Skip to content
Edit post

Parliament ratifies EU Ukraine Facility framework agreement, Ukraine to receive more than $17 billion in 2024

by Elsa Court and The Kyiv Independent news desk June 6, 2024 2:29 PM 2 min read
The flag of Ukraine and the flag of the EU in Berlin, Germany on April 24, 2023. Photo for illustrative purposes. (Monika Skolimowska/picture alliance via Getty Images)
This audio is created with AI assistance

Ukraine's parliament, the Verkhovna Rada, ratified on June 6 the terms for which Kyiv will receive 50 billion euros ($54 billion) in macro-finance support from the EU until 2027, known as the Ukraine Facility.

Prime Minister Denys Shmyhal announced later in the day that Ukraine would receive 16 billion euros ($17.4 billion) through the program in 2024.

The four-year Ukraine Facility allocates 33 billion euros ($36 billion) in loans and 17 billion euros ($18 billion) in grants, conditional on certain reforms that the Ukrainian government is obliged to carry out.

The EU approved the Ukraine Facility in February and the EU Council approved the framework agreement in mid-May, setting out the Ukrainian government's tasks for recovery, reconstruction, and modernization.

Shmyhal said in March that the reforms would cover "public administration, (the) fight against corruption, (and) economic and sectoral reforms in various spheres: from the energy to the agricultural sector."

According to lawmaker Yaroslav Zhelezniak, 320 MPs voted in support of the framework agreement.

Kyiv already received two pre-financing "bridge" tranches under the assistance plan: 4.5 billion euros ($4.8 billion) in March and 1.5 billion euros ($1.6 billion) in April.

Ukraine received EU membership candidate status in June 2022. In November 2023, the European Commission recommended the launch of accession talks with Kyiv.

The European Council then agreed to open accession talks with Ukraine the following month.

EU aid and accession talks: Why European elections matter for Ukraine
Starting on June 6, citizens of the European Union will head to the voting booths to elect the bloc’s 720-member European Parliament. The election, held between June 6 and June 9 and often downplayed as irrelevant by voters, will have a major impact on EU domestic and foreign policy, among
Let’s see how far we can go?
We’ve been amazed by your support. We’ve reached our initial goal of finding 1,000 new paying members. We still have till the end of our birthday campaign — with more support, we can do even more good journalism. Over 13,000 people are standing behind us. Can we count on you, too?
Show us support this birthday month
Become a member
visa masterCard americanExpress

News Feed

1:50 PM  (Updated: )

Reuters reports Assad may have died in plane crash, later removes report.

Reuters on Dec. 8 reported, citing its Syrian sources that "there was a very high probability that Syrian President Bashar al-Assad may have been killed in a plane crash" as he was fleeing Damascus following its capture by rebels. Reuters later deleted the information from its reporting.
11:50 PM

US announces $988 million military aid package for Ukraine.

The latest aid package will be pulled through the remaining $2 billion in funding from the Ukraine Security Assistance Initiative (USAI) — a Pentagon-led program for supplying arms to Ukraine through contracts with U.S. defense companies.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.