The EU has made changes to the Ukraine Plan of reforms for over 8 billion euros of additional funding under the Ukraine Facility for 2026, the EU Council reported on July 30, writes UNN.
Details
"The (EU) Council today adopted a decision to amend the Ukraine Facility and the associated Ukraine Plan. The Ukraine Plan defines a roadmap of ambitious reforms that Ukraine must implement before payments under this mechanism. The changes reflect an additional 8.3 billion euros in funding for 2026, provided through the Ukraine Support Loan credit, agreed upon by the European Parliament and the (EU) Council in February this year," the statement reads.
According to the European Commission's proposal, the amended Ukraine Plan introduces additional reform steps, including reforms in the rule of law and anti-corruption areas
Additions
The Ukraine Facility, which came into effect on March 1, 2024, provides stable funding of over 50 billion euros in grants and loans to support Ukraine's recovery, reconstruction, and modernization for the period from 2024 to 2027.
Since its entry into force, under the Ukraine Facility, Ukraine has already received 6 billion euros through transitional funding, 1.89 billion euros in pre-financing, and seven tranches totaling approximately 21.6 billion euros, noted in the EU Council.