Ukraine must carry out rule of law and anti-corruption reforms to receive EU funds
Ukraine must implement a number of reforms related to the rule of law and anti-corruption efforts in order to receive part of the budget support from the EU's €90 billion loan.
Source: European Pravda
Details: This year, the EU will provide Ukraine with €16.7 billion in budget support, half of which will be delivered through the Macro-Financial Assistance (MFA) instrument, while another €8.35 billion will be provided through the Ukraine Facility, which focuses on EU integration reforms under the principle of "money in exchange for reforms".
Ukraine and the EU still need to hold negotiations on the list of reforms, the implementation of which will determine Kyiv's access to budget support tranches.
Sources told European Pravda that these requirements will be based on elements of a plan outlined by EU Enlargement Commissioner Marta Kos and Taras Kachka, Ukraine's Deputy Prime Minister for European and Euro-Atlantic Integration. These concern reforms in the rule of law and anti-corruption areas where Ukraine is currently not demonstrating sufficient progress.
There is no schedule yet for new tranches under the Ukraine Facility, as agreement is needed on the reforms required for each payment.
Sources report that in May or early June, Ukraine will receive a €2.7 billion tranche under this programme for fulfilling previous commitments.
"This will be the last payment under the previous Ukraine Facility. After that, there will be a new list of reforms," a European Pravda source explained.
Background:
- The remaining half of the EU's budget support this year will be provided in three tranches through the MFA.
- European Pravda has learned that the first tranche of the military component of the EU's €90 billion loan will amount to €6 billion and will be transferred to Ukraine no later than June.
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