EU will set up an instrument providing financial support for Ukraine's recovery
EU will set up an instrument providing financial support for Ukraine's recovery
The new Ukraine Facility will support Ukraine's efforts to sustain macro-financial stability, promote recovery as well as modernise the country whilst implementing key reforms on its EU accession track. It will support the transition towards a green, digital and inclusive economy that is progressively aligned with EU rules and standards.
The funding will be divided into three pillars:
financial support in the form of grants and loans a specific Ukraine Investment Framework designed to attract and mobilise public and private investments for Ukraine's recovery and reconstruction technical assistance and other supporting measuresThe foreseen overall amount of the Facility is up to €50 billion for the period 2024 to 2027 for both grants and loans.
The European Parliament and Council are to consider this proposal as part of the EU's Medium-Term Financial Framework (MFF). Once approved, Ukraine will be asked to submit its own plan outlining planned reforms and investments.
More details on the European Commission's website. - Created on .
