Ukraine and the European Union have signed an Agreement totalling EUR 27 billion for 2024-2027 under the Ukraine Facility.

The signatories on behalf of Ukraine were Minister of Finance Sergii Marchenko and Governor of the National Bank of Ukraine Andriy Pyshnyy.

Ukraine will receive the first tranche of EUR 1.9 billion in pre-financing in June. The rest of the budget support will be disbursed quarterly after Ukraine has met the indicators set out in the Ukraine Plan.

In March-April 2024, the State Budget has already received two tranches of bridge financing in the amount of EUR 6 billion under the Ukraine Facility. On May 14, the Economic and Financial Affairs Council (ECOFIN) approved the Ukraine Plan for 2024-2027 under the EU’s Ukraine Facility.

Under the Ukraine Plan, the Ministry of Finance is responsible for three areas: public financial management, anti-money laundering and financial markets. It is also a co-implementer in the sections on public asset management, human capital, business environment, decentralization and regional policy, transport, agri-food sector, and critical materials management.

Some of the indicators defined in the Plan are aligned with other donor support programs, including the IMF’s EFF Arrangement, the World Bank’s Development Policy Loan (DPL), and European integration agenda.