Ukraine has finally ratified the agreement with the EU on financing under the Ukraine Facility program: it is expected to attract €1.89B in June.

Ratification of the agreement will include the necessary control and audit mechanisms for the €50B instrument that is in place from 2024 through 2027, subject to the successful implementation of the Plan of Ukraine.

Ukraine has already received €6B this year from the Ukraine Facility. After ratification, €1.89B in pre-financing is expected in June. Another €8.2B will be provided “in exchange for reforms.”

According to the Ministry of Economy, the Framework Agreement Ukraine must ensure a high level of transparency and control in the use of funds provided by the EU. To accomplish this, mechanisms will be created to prevent corruption risks, and institutional capacity for monitoring and control will be strengthened. The agreement envisages close cooperation between Ukrainian state authorities and EU institutions, which will also contribute to European integration.