Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for political professionals · Wednesday, May 29, 2024 · 715,517,971 Articles · 3+ Million Readers

Ukraine Plan: Council of EU greenlights regular payments under the Ukraine Facility

On 14 May, the Council of the European Union adopted an implementing decision giving a positive assessment to the Ukraine Plan.

The Ukraine Plan sets out the intentions of the Ukrainian government regarding the recovery, reconstruction and modernisation of the country, and the reforms it plans to undertake as part of its EU accession process in the next four years.

The Council considered in particular that thanks to this plan, Ukraine fulfils the precondition for support under the Ukraine Facility (up to €50 billion), and that regular payments can now start to flow. This decision enabled the Commission to disburse up to €1.89 billion in pre-financing until regular disbursements tied to the implementation of reform and investment indicators under the Ukraine Plan will start.

Following payments will be disbursed by the EU subject to the implementation of the agreed reform and investments in the form of the qualitative and quantitative steps. These steps, implementation timetable and payments schedule are set out in the annex of the Council implementing decision.

Financial support is also dependent on strengthening the rule of law, upholding effective democratic mechanisms and the independence of the judiciary, strengthening the public administration reform, and fighting corruption – in particular high-level corruption – and money laundering.

Find out more

Press release

Powered by EIN Presswire
Distribution channels: Politics

EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release