EU Adds 26 New Conditions to Ukraine Facility for €8.35 Billion, Changes Payment Rules
Ukraine and the EU have agreed on 26 new conditions and revised payment rules for the €8.35 billion Ukraine Facility program. The changes focus on EU integration reforms, allow for partial fulfillment of indicators, and incentivize early implementation, which is expected to bring additional funds to Ukraine.
Ukraine and the EU have agreed on changes to the Ukraine Facility program, introducing 26 new conditions and revising aid payment rules. These changes, approved by the Ukrainian government, are expected to be endorsed by the European Commission and EU member states by mid-July. The total funding under the program amounts to €8.35 billion.
Key changes include a focus on reforms necessary for EU accession, particularly in justice and anti-corruption. For instance, approving the law on reforming the SBI will bring €124 million, and an anti-corruption strategy will add €390 million. The EU also agreed to partially credit the fulfillment of indicators, preventing Ukraine from losing significant funds due to incomplete compliance, as seen with the appointment of HACC judges.
Furthermore, the EU will incentivize Ukraine for early implementation of reforms, allowing for earlier disbursement of funds. These adjustments aim to enhance the program's flexibility and effectiveness, considering the realities and challenges Ukraine faces.