On February 24, Minister of Finance of Ukraine Sergii Marchenko participated in the plenary session during the visit of the European Commission College to Kyiv.

The College-to-Government meeting was chaired by Prime Minister of Ukraine Denys Shmyhal and President of the European Commission Ursula von der Leyen.

The meeting between the Government of Ukraine and the European Commission is an opportunity to exchange views on many areas of cooperation between the EU and Ukraine, as well as to discuss the future reconstruction and European path of the country. 

Sergii Marchenko thanked for the significant support and readiness to continue to stand side by side with Ukraine:

“Three years of full-scale war have become a real test for Ukraine in all possible spheres. But despite the daily challenges, the country demonstrates resilience, including in the area of public finance. The Government and the Ministry of Finance have managed to ensure macro-financial stability and the provision of all public services to the Ukrainians since the first days of the full-scale invasion. 

The efforts of international partners played a significant role. Prompt and coordinated decisions by the European Commission and other key EU institutions were undoubtedly crucial in supporting the economic and financial situation in Ukraine. The EU is the largest donor of budgetary assistance - more than €45 billion since February 2022.” 

Since 2022, Ukraine has received funds from the EU under five Macro-Financial Assistance programs and the Ukraine Facility.

The EUR 50 billion Ukraine Facility program for 2024-2027 has become one of the main financial support mechanisms from the EU since 2024. Ukraine has already implemented 41 reform measures under the program. The EU Council is expected to approve a decision on the allocation of a new tranche of EUR 3.5 billion in the near future.

The Minister of Finance also emphasized the importance of the decision to use the revenues from the frozen assets of the russian federation for the needs of Ukraine. The EU's Macro-Financial Assistance under the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative reaches EUR 18.1 billion. The frozen assets of the russian central bank in the EU constitute the majority of such immobilized assets worldwide.

Sergii Marchenko also added that the EU's financial assistance is not only about directly providing funds to partially cover the State Budget deficit, but also about supporting important structural reforms: 

“Amidst a full-scale war, Ukraine continues to implement key reforms to restore the country's economy and continues its path to European integration. The issue of economic sustainability in 2026 and beyond should be a common strategic priority for Ukraine and the EU. Economic recovery requires long-term financial solutions, including Ukraine's integration into the EU's Multiannual Financial Framework for 2028-2034.”

The MFF is a budget planning tool with clearly defined EU political priorities.

Ukraine's integration into the EU's MFF will allow to launch new, long-term financial support mechanisms, ensure investments in critical infrastructure, and introduce a system of own resources in Ukraine, which is the basis for the contributions of member states to the EU budget.

In conclusion, the Minister of Finance emphasized the importance of deepening cooperation, joining efforts to build a strong Europe and return a just and lasting peace to the European continent.