On 6 June, the Verkhovna Rada ratified the Framework Agreement on EU financing under the Ukraine Facility concluded between Ukraine and the EU for a total of EUR 50 billion. The agreement officially launches the implementation of the Ukraine Plan and defines the mechanisms of financial cooperation between Ukraine and the EU.

"The Framework Agreement, which has been ratified by the Parliament, means the official launch of the Ukraine Plan for sustainable financial support for our country. The procedures envisaged will ensure coordination with the European Union for the efficient, transparent and accountable use of funding, which is a prerequisite for further European integration," said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

Thus, according to the Framework Agreement, Ukraine undertakes to ensure a high level of transparency and control in the use of funds provided by the European Union. To this end, mechanisms will be created to prevent corruption risks and the institutional capacity for monitoring and control will be intensified. The Agreement provides for close cooperation between the Ukrainian authorities and the EU institutions, which will also contribute to European integration.

 Yuliia Svyrydenko added that soon Ukraine and the EU would also sign a Financial and Loan Agreement, which will allow to attract EUR 1.89 billion in pre-financing this month and continue to receive regular payments for the implementation of the indicators of the Ukraine Plan.
As a reminder, on 22 May, Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine, and Olivér Várhelyi, EU Commissioner for Neighbourhood and Enlargement, signed a Framework Agreement on EU financing under the Ukraine Facility.