Ukraine Facility Plan to strengthen sustainability of national economy – Svyrydenko
The implementation of the Ukraine Facility Plan will help carry out structural reforms in the public sector, as well as a number of economic reforms.
The relevant statement was made by the Ukrainian Economy Ministry, an Ukrinform correspondent reports.
“The Government’s approval of the Ukraine Facility Plan is a critical step for the final launch of the programme. […] I would like to point out that the Ukraine Facility Plan is not a comprehensive national development strategy, but the implementation of the indicators set out in it will help to significantly strengthen the sustainability of the national economy,” Ukrainian First Deputy Prime Minister, Economy Minister Yuliia Svyrydenko noted.
In her words, the Ukraine Facility Plan provides for implementing structural reforms in the public sector and a number of economic reforms aimed at developing the business climate and entrepreneurship. It also defines the steps to develop priority sectors that can ensure rapid economic growth.
The Ukraine Facility Plan includes more than 150 indicators in 69 reform areas to be implemented by 2027.
The document was developed in full synchronization with Ukraine’s key international partners, according to the ministry. In this regard, the indicators envisaged by the Plan partially correspond to Ukraine’s existing international commitments under other agreements.
The Ukraine Facility Plan also contains 16 investment indicators, which are included in the general list of changes. In order to meet them, it is necessary to continue and strengthen programmes for infrastructure development, demining, renewable energy, support for small and medium-sized enterprises, etc
During 2024, more than 36 indicators are expected to be implemented in the areas of improving public financial management, anti-corruption efforts, state property management, human capital development, improving the business environment and developing priority sectors.
The last instalment under the programme is expected to be disbursed in 2028 based on the performance of the indicators for the fourth quarter of 2027.
A reminder that, in February 2024, the European Parliament approved the creation of the Ukraine Facility worth EUR 50 billion in the EU budget for 2024-2027.
The Ukraine Facility includes three main components: EUR 38.27 billion in direct budget support; EUR 6.97 billion as a special investment instrument to cover risks in priority sectors; and EUR 4.76 billion in technical support for reforms and interest coverage on loans, including those obtained previously.