On Tuesday 14 May, the Ecofin Council formally adopted the reform and investment programme that Ukraine submitted to the European Union as part of the Ukraine Facility, the European Union’s instrument for providing macrofinancial assistance of €50 billion to Ukraine until 2027 (see EUROPE 13407/3).
This programme sets out a series of investments and reforms with a timetable that the Ukrainian authorities will have to implement in order to receive instalments of financial aid from the EU.
Kyiv has already received €6 billion in bridge finance (see EUROPE 13398/47). The adoption of the Ukrainian programme paves the way for the disbursement of €1.89 billion of pre-financing before the start of regular payments conditional on the implementation of the agreed reforms and investments.
According to the current President of the Ecofin Council, Vincent van Peteghem, “the EU has once more confirmed its commitment to Ukraine’s stability and growth”.
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)