Ukraine needs to carry out 25 reforms to receive €10bn from EU by end of year
The Ukrainian authorities have to carry out 25 reforms or steps to receive more than €10 billion in support for the Ukrainian budget under the EU's €90 billion loan and the Ukraine Facility.
Source: European Pravda, citing sources in the EU
Details: The reforms are set out in the updated Ukraine Plan under the Ukraine Facility. It was approved in principle by EU ambassadors last week and is expected to be approved by the Council of the EU through a written procedure on 30 July.
Under the plan, Ukraine may receive €2.86 billion for completing a list of seven reforms. These include the entry into force of legislation ensuring a transparent and fair selection process for senior-level prosecutors, legislation on simplified insolvency procedures for small and medium-sized businesses and improvements to the state electronic register of farms.
Ukraine may also receive a large tranche of €7.5 billion in 2026 if it implements 18 reforms or steps. These include appointing independent supervisory boards at state-owned businesses, introducing an updated IT system for enforcing court decisions, making significant investments in education and healthcare, and providing housing worth at least €200 million for veterans with disabilities, family members of fallen veterans and internally displaced persons.
Background:
- The Ukrainian government approved changes to the Ukraine Facility plan agreed upon with the European Commission on 11 June.
- Under the new plan, the EU is setting stricter reform conditions for Ukraine to receive macrofinancial tranches. Meanwhile, Kyiv is resisting requests from Brussels.
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