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Ukrainian Prime Minister Denys Shmyhal (L) and European Commission President Ursula von der Leyen in a meeting in Brussels, Belgium, on March 20, 2024. (Denys Shmyhal/X)
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Prime Minister Denys Shmyhal submitted the Ukraine Facility Plan to European Commission President Ursula von der Leyen during a meeting in Brussels on March 20.

"This is an important step for the implementation of reforms and financial stability on Ukraine's path to the EU," Shmyhal said on X.

"We await the approval of the Plan and the full launch of the Ukraine Facility program."

The plan contains a framework for a variety of reforms that Ukraine has agreed to implement as part of the conditions for receiving 50 billion euros ($54 billion) from the EU's Ukraine Facility over the next four years.

Shmyhal said on March 18 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."

Ukraine received the first tranche of the Ukraine Facility funding earlier on March 20.

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 the Solidarity and Emergency Aid Reserve.

Monthly chart: Ukraine struggles to cover budget needs for 2 months in a row as foreign financing dwindles
The following is chart is based off of data originally published in the Kyiv-based Center of Economic Strategy’s “Ukraine War Economy Tracker.” The Kyiv Independent is republishing with permission. Ukraine’s budget struggles with low amounts of foreign aid in 2024 Ukraine’s state budget finan…
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