The first tranche of the €50 billion aid that the EU has agreed to provide to Ukraine under the four-year Ukraine Facility programme may be disbursed in early March, according to First Deputy Prime Minister and Minister of Economy Yuliya Svyrydenko.
"We expect to receive the first instalment of EUR 4.5 billion in March. The government is currently working on the relevant agreement on transitional financing together with European partners," she said.
She added that the vote on the Ukraine Facility in the European Council is "a powerful signal of the partners' continued support for Ukraine".
According to the minister, the next step will be to determine the final terms of the programme as part of a triallogue between the European Council, the European Commission and the European Parliament. The final regulations are to be adopted by the European Parliament during its plenary session scheduled for 26-29 February 2024.
"The European Council's decision also reflects a positive assessment of the preparation of the Ukraine Facility Plan, which is being coordinated by the Ministry of Economy. After the approval of the regulations by the European Parliament, the relevant final terms of the programme will be embedded in the Plan. When the document is approved by the government, the Plan will be submitted to the European Commission for consideration," Svyrydenko said.
She noted that the Ukraine Facility Plan envisages structural reforms in the public sector, a number of economic reforms aimed at improving the business climate and entrepreneurship, and steps to develop priority sectors that can ensure rapid economic growth.
Support under the EU's Ukraine Facility programme will be provided on a quarterly basis for meeting the criteria set out in the Plan for the implementation of the envisaged reforms.