The government approves the EU’s €50B Ukraine Facility plan.

The Ukrainian government has approved a draft of the Ukraine Facility plan, according to which Ukraine should receive a €50B package of support from the EU that will be delivered during 2024-2027, Prime Minister Denys Shmyhal said. He said the draft was approved for submission to the European Commission.

“At the moment, we have current developments, to which the European Commission will provide its comments and proposals,” the head of the government said. He added that Ukraine will receive the final conditions of the program after the approval of the Ukraine Facility regulations by the European Council, which is scheduled for February 1, 2024.

The acceptance of the final version of the plan by the EC will give Ukraine access to a financial resource of €50B for four years, of which €39B will be aimed at ensuring macro-financial stability.