The European Union adopted the Ukraine plan necessary for the implementation of the €50 billion Ukraine Facility program.
This was reported on the EU Council website on May 14.
EU approved Ukraine's plan for Ukraine Facility
The green light from the EU will allow the full launch of the Ukraine Facility, under which Ukraine will receive €1.89 billion in the near future. In total, the program is expected to attract €16 billion in 2024.
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— Today the Council of the EU adopted an implementation decision in which it positively assessed the Ukraine plan, which defines the intentions of the Ukrainian government to restore, reconstruct and modernize the country, as well as the reforms it plans to implement in as part of the EU accession process over the next four years, — the message says.
It is noted that the EU Council believes that thanks to this plan, Ukraine has fulfilled the precondition for receiving support under the Ukraine Fund (up to €50 billion), and regular payments can now begin.
Payments to Ukraine will be made by the EU subject to the implementation of agreed reforms and investments in the form of qualitative and quantitative steps set out in the annex to the EU Council implementation decision.
In addition, financial support under the Ukraine Plan will be provided on the condition that Ukraine continues to support and respect effective democratic mechanisms, including a multi-party parliamentary system and the rule of law, as well as respect for human rights.< /p>
Financial support also depends on strengthening the rule of law, supporting the independence of the judiciary, strengthening public administration reform, and combating corruption, particularly high-level corruption, and money laundering.
