The European Union's Economic and Financial Affairs Council has approved the Plan of Ukraine under the EU's Ukraine Facility for 2024-2027, according to the Ukrainian Ministry of Finance.
"Thus, the procedure for launching direct budget support under the first pillar of the Ukraine Facility is almost complete. In the near future, Ukraine will receive EUR 1.9 billion of pre-financing," the statement says.
According to the press service, Ukraine will receive the rest of the budget support every quarter after fulfilling the indicators set out in the Ukraine Plan.
Ukraine Facility program
In February 2024, the European Parliament approved the regulations of the Ukraine Facility program. The EU's €50 billion support program for Ukraine will run from 2024 to 2027.
Ukraine has already received €6 billion of financial support in March and April this year for fulfilling 5 indicators of the first quarter. In the second quarter, 9 indicators need to be met, which will allow Ukraine to receive €4.110 billion in September 2024.
In total, the Ukraine Facility Plan includes 151 indicators in 69 reform areas to be implemented by 2027.
Ukraine is to receive €16 billion in 2024, €12.5 billion in 2025, €7.25 billion in 2026, €1.2 billion in 2027, and €1.32 billion in January 2028 for the implementation of the indicators of the Ukraine Facility Plan for Q4 2027.
