On February 1, all 27 leaders of the EU member states politically endorsed the launch of the €50B Ukraine Facility for 2024-2027. Most of these funds will ensure Ukraine’s social and humanitarian budget needs are met, and that projects for the country’s reconstruction are implemented.
As the Ministry of Finance emphasized, the four-year program will allow the government of Ukraine to plan and manage public finances more confidently in the medium term. The program envisages systematic and projected financing based on the fulfillment of the conditions agreed upon by the parties. In addition, the program will supplement existing support tools for Ukraine, such as budget guarantees, financial instruments, and additional financing for development of the private sector.
In addition, the Ukraine Facility foresees 15 key areas of reform, and their implementation will contribute to the modernization of Ukraine on its way to the EU. The program will also aid Ukraine’s transitioning to a green, digital, and inclusive economy that will gradually align with EU rules and standards.