Yesterday, 15 April 2024, the European Commission approved the Ukraine Plan under the Ukraine Facility, which sets out the conditions for receiving €50 billion of macro-financial assistance over the period 2024-2027.
For the first time, the Economic Development Committee heard and discussed information on the status of the Ukraine Plan at its meeting on 19 October 2023.
This Plan is a specific list of structural reforms and measures that will serve as a programme for the recovery and economic development of the state for the next 4 years.
In March 2024, the Ukraine Plan was approved by the Government of Ukraine.
According to the European Commission, the Ukraine Plan identifies key reforms and investments that will contribute to sustainable economic growth and attract investment to enhance the country's growth potential in the medium and long term. The Plan also provides a framework for the effective recovery, reconstruction and modernisation of Ukraine.
For the first time, Ukraine has a comprehensive Economic Development Plan for the next four years,” said Yuliia Svyrydenko, the First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine. “It is aimed at creating conditions for economic development and European integration in many areas of the country’s life. We are pleased to welcome the positive decision of the European Commission, which confirms our common vision of economic development of the country on the way to the EU. Following the approval of the Implementing Decision by the EU Council, the European Commission will be able to provide Ukraine with up to EUR 1.89 billion in pre-financing under the Ukraine Facility. In the future, Ukraine will receive regular payments for meeting the quarterly indicators set out in the Plan over the 4 years of the programme.”
The Committee on Economic Development is sincerely grateful to our European partners and allies for this decision and emphasise that only by working together we can protect our freedom, our lands, our people and rebuild our country!