On Wednesday 8 May, the ambassadors of the Member States to the European Union (Coreper) approved the programme of reforms and investments that Ukraine has submitted at European level in the context of the ‘Ukraine Facility’, the EU instrument that will provide macro-financial assistance to Ukraine to the tune of €50 billion until 2027 (see EUROPE 13344/18).
This programme, which the European Commission validated in mid-April, sets out a series of investments and reforms, together with a timetable that the Ukrainian authorities will have to implement in order to receive instalments of financial aid from the EU. It also describes the arrangements made between the Ukrainian authorities and EU institutions and bodies to enable regular monitoring of the use of European funds.
It will be up to the Ecofin Council to definitively adopt the Ukrainian programme on Tuesday 14 May. In order to ensure continuity between the EU’s macro-financial assistance for 2023 and the implementation of the ‘Ukraine Facility’, the sum of €6 billion has already been paid to Kyiv as bridging finance (see EUROPE 13398/47).
See the draft EU Council decision approving Ukraine’s programme: https://aeur.eu/f/c5l
See the appendix detailing the nature and timetable of the investments and reforms identified by Ukraine: https://aeur.eu/f/c5m (Original version in French by Mathieu Bion)