Ministry of Economy signs Memorandum of Cooperation with the Audit Council of Ukraine Facility

The Ministry of Economy of Ukraine and the Audit Council of the Ukraine Facility signed a Memorandum of Cooperation in Kyiv today. The document was inked by Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine, and Marek Marek Belka, Chairman of the Audit Council, former Prime Minister of Poland, Professor of Economics.

The Memorandum defines the key principles of cooperation between the Ministry of Economy as the national coordinator of the Ukraine Facility program and the Audit Council. The aim of the cooperation is to ensure transparent and efficient use of EU funds. The parties agreed to coordinate their efforts in the following areas:

• Improving mechanisms for monitoring the use of financial assistance.
• Analysing systemic challenges and developing recommendations to improve the efficiency of funding programmes.
• Providing advisory support for reforms and public governance.
• Establishing cooperation between Ukrainian government agencies and international partners within the Ukraine Facility.

"Ukraine demonstrates full commitment to the transparent and efficient use of funds received under the Ukraine Facility. In 2024, we completed 36 steps, attracting more than EUR 16 billion to the state budget, and we expect the next tranche of EUR 3.5 billion by the end of March. For the first time, Ukraine has completed the year by fulfilling all its obligations to international partners under a specific cooperation programme in full and on time, without any changes or modifications. This confirms our ability to effectively implement our international commitments and ensure the stable cooperation with our partners," said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

This is the first visit of the Audit Council's delegation to Ukraine. During the meeting, the parties also discussed the role of the Ministry of Economy as the national coordinator of the Ukraine Facility programme. In particular, the establishment of cooperation between all bodies responsible for implementing the steps of the Ukraine Facility Plan.

Representatives of the Audit Council confirmed their readiness to develop close cooperation with the Ukrainian side. The participants of the meeting stressed the importance of a partnership approach and open dialogue to achieve common goals.

"We strive to make the Ukraine Facility programme successful together with our Ukrainian friends and partners. During our first visit to Kyiv, which was extremely productive, we were impressed by the results achieved," said Marek Bielka, Chairman of the Ukraine Facility Audit Board.

The members of the delegation noted that the signing of the Memorandum creates a solid basis for constructive cooperation and will contribute to the successful implementation of initiatives under the Ukraine Facility programme.

Background information

The Ukraine Facility Audit Board is an independent body established by the European Commission in June 2024. Its main objective is to ensure the transparent and efficient use of EU funds for the recovery, reconstruction and modernisation of Ukraine. The Board conducts independent consultations, analyses systemic processes and provides recommendations to the European Commission and the Ukrainian authorities, thus helping to maintain high standards of Programme implementation and efficient use of financial support.

The Ukraine Facility is a programme of financial support for Ukraine from the European Union of up to EUR 50 billion for the period 2024-2027. The funds are conditional on the implementation of specific structural reforms and investment projects.