The framework of the Ukraine Facility will allow for attracting other donors.

Developments within the framework of the Ukraine Facility program will become the foundation for further negotiations with a broader range of partner countries and financial organizations.

The program’s financing needs significantly exceed its resources, consisting of €50B from the EU, while the total needs for recovery are estimated at a minimum of €400-€500B, said the Minister of Economy of Ukraine, Yulia Svyridenko.

In addition, according to her, the program should become not only the foundation for Ukraine’s recovery and European integration but also ensure the state’s internal transformation, the implementation of economic reforms, and stimulate the development of priority economic sectors.

“We believe that the EU will be able to approve the entire Ukraine Facility program by the end of November to have time to approve the allocation of funds for the next year as part of the EU budget process in December”, the minister emphasized.