Ukraine hands over Ukraine Facility Plan to the European Commission for consideration
On 20 March, Prime Minister of Ukraine Denys Shmyhal handed over the Government’s Ukraine Facility Plan to President of the European Commission Ursula von der Leyen for further consideration.
The plan envisages almost 70 reform areas, including structural reforms in the public sector, a number of economic reforms aimed at developing the business climate and entrepreneurship, etc.
“We expect it to be endorsed by a committee of EU member states in April. After that, the new funding instrument will finally enter into force,” said Denys Shmyhal.
The Head of Government reminded that the Ukraine Facility provided for assistance of EUR 50 billion for four years. This includes both budgetary support for Ukraine and funds to implement reforms and stimulate investment in the Ukrainian economy.
According to Denys Shmyhal, this instrument “will be one of the anchors of our strength.”
He also said that EUR 4.5 billion in bridge financing under the Ukraine Facility was due to be disbursed today.
“Ukraine is extremely grateful to the European Commission, and to President Ursula von der Leyen personally, for opening the so-called bridge financing. This is EUR 6 billion, which we will receive in two tranches. The first tranche of EUR 4.5 billion is expected today. The second tranche of EUR 1.5 billion will be received in April,” the Prime Minister stressed.
In addition, the Prime Minister thanked the European Commission for submitting a negotiating framework for Ukraine’s future membership in the EU to the European Council: “We hope that the member states will promptly consider and adopt it.”
Denys Shmyhal stressed that Ukraine and the European Union had never been more united in common values, aspirations and hopes.
“Together we will stand, together we will win, together we will build a better future. Ukraine and Europe are moving towards each other to be united and always together,” the Head of Government said.