The Cabinet of Ministers has approved changes to the Ukraine Plan within the Ukraine Facility program, which will create the prerequisites for attracting 8.35 billion euros in additional support under the Ukraine Support Loan. This was announced by Prime Minister Yulia Svyrydenko, as reported by UNN.
We are updating the Ukraine Plan within the Ukraine Facility program. We are synchronizing the Plan with Ukraine's accession process to the European Union and creating the prerequisites for attracting 8.35 billion euros in additional support under the Ukraine Support Loan
According to her, the government approved the changes developed jointly with the European Commission, central executive bodies, and members of parliament.
We are updating 35 steps of the Plan and adding 26 new ones. Among the main areas are the rule of law, energy, corporate governance, and other key sectors. The new and updated indicators are synchronized with Ukraine's European integration obligations, benchmarks of the EU membership negotiation process, and the adaptation of Ukrainian legislation to European Union law. The implementation of the updated Ukraine Plan will allow for the attraction of financial support for macroeconomic stability and the country's recovery
The Ministry of Economy stated that the main goal of the update is to strengthen the link between the Ukraine Plan and the EU accession process.
The revision of the Ukraine Plan takes into account the implementation of an updated approach to partial payments within the Ukraine Facility. This approach allows for a more comprehensive consideration of actual progress in implementing reforms, including the early completion of individual steps, and makes the financing system more predictable for all participants in the process. The update also takes into account practical experience in implementing the Ukraine Facility. This involves increasing the predictability of reform implementation, strengthening coordination between state institutions, and reducing the risks of delays in achieving indicators. The main areas of the update cover the rule of law, energy, corporate governance, and other areas related to the fulfillment of Ukraine's European integration obligations
In total, the revision proposes to update 35 steps and add 26 new ones, which (preliminarily) include 10 legislative and 16 government decisions.
The final list of changes will be made public after the completion of approval procedures by the European Union.
At the same time, the update of the Ukraine Plan maintains the strategic goals of the reforms and the level of ambition of the state's commitments. This involves the further development of the instrument and its adaptation to new tasks related to European integration and the country's recovery amidst the full-scale war. Updating the Ukraine Plan is a standard procedure within the implementation of the Ukraine Facility program. A similar revision of the document has already taken place previously and is common practice for multi-year support instruments implemented jointly with the EU. According to the established mechanism, after the Government's approval, the proposals for changes must be approved by the Council of the EU. Only after these procedures are completed will the updated Ukraine Plan come into force and move to the implementation stage
As a reminder
Ukraine received the seventh tranche of 2.8 billion euros within the Ukraine Facility from the European Union.