Ukraine has taken all the necessary steps to meet the indicators for the second quarter of 2024 envisaged by the Ukraine Plan under the EU’s Ukraine Facility programme and has submitted a request for EUR 4.1 billion to the European Commission.

A positive assessment of the fulfilment of the indicators by the European Union will allow Ukraine to receive the next instalment of macro-financial support in the amount of EUR 4.11 billion in September this year.

“Ukraine is fulfilling the indicators planned under the Ukraine Facility in a timely manner and in full. This opens up funding for us under the programme. In addition, we have also signed all the additional agreements with the EU that allow us to receive the relevant funds in accordance with the agreed schedule. We look forward to a positive assessment of the indicators by the EU. These steps allow us to work with confidence on the comprehensive development of the national economy,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

In July, the European Commission will review and confirm the report on Ukraine’s compliance with the second quarter 2024 indicators. After that, over the next two months, the EU member states will have to approve the decision to provide the relevant funds to Ukraine.

During the second quarter of 2024, Ukraine fulfilled 9 indicators set out in the Plan for the Implementation of the Ukraine Facility. These include the following steps:

• approval of the digitalisation plan for the State Customs Service;
• approval of the Budget Declaration for 2025-2027;
• approval of the Action Plan for the implementation of the Roadmap for public investment management reform;
• appointment of a new head of the NACP;
• entry into force of the Law on corporate governance for state-owned companies;
• revision of the legal framework on the Economic Security Bureau;
• development and approval of the Integrated National Energy and Climate Plan;
• adoption of the Strategy for thermal modernisation of buildings for the period up to 2050 and the Action Plan for its implementation;
• entry into force of the strategic document on mine action for the period up to 2033.

According to the Ukraine Facility Plan, Ukraine plans to meet the next 9 indicators during Q3 2024, which will allow it to receive EUR 4 billion in November 2024, including EUR 1.5 billion in grant funding. In total, Ukraine expects to receive EUR 16 billion of support in 2024, of which EUR 3 billion will be grant assistance.

The Ukraine Facility programme will help stabilise the macroeconomic and financial situation in the country and provide the necessary resources to support key sectors of the economy. This includes both private and public investment projects aimed at the recovery and development of Ukraine. The EU’s support will contribute to Ukraine’s resilience in the fight against russian aggression and help ensure sustainable growth in the long term.