Ukraine has received a positive assessment from the European Commission

The European Commission has given a positive assessment of the indicators that Ukraine has fulfilled under the Ukraine Facility Plan for the third quarter of 2024.

The Ministry of Finance of Ukraine reports.

Ukraine has fulfilled all nine indicators provided for in the Ukraine Plan. Reform measures cover such areas as the fight against corruption, the business environment, the labor market, regional policy, the energy market and environmental protection.

The positive assessment by the European Commission paves the way for the disbursement of the second regular tranche of EUR 4 billion, which is subject to the fulfillment of the indicators. The decision must also be approved by the EU Council.

President of the European Commission Ursula von der Leyen noted the commitment of the Ukrainian authorities to implementing reforms to restore and advance on the path to the EU and assured of continued support for Ukraine.

"The EU is a key partner of Ukraine, which plays an important role in accelerating our victory and strengthening the country's economic resilience. The Government of Ukraine continues to responsibly implement reform measures and fulfill the terms of cooperation. First and foremost, Ukraine needs this to strengthen the competitiveness of its economy and full European integration.Iam grateful to the EU for supporting our country on this path," said Minister of Finance of Ukraine Sergii Marchenko.

In total, the state budget has already received EUR 12.1 billion under the Ukraine Facility program. Ukraine is expected to receive the next tranche by the end of 2024.

On November 8, the World Bank's Board of Directors approved a new systemic project in Ukraine, Supporting Recovery through Reasonable Fiscal Governance (SURGE). At the stage of approval, the planned total project volume reaches about USD 750 million for 2024-2027.

Financing for the project will consist of a USD 450 million loan from the International Bank for Reconstruction and Development (IBRD) from the Trust Fund for Ukraine's Necessary Credit Support (ADVANCE Ukraine), supported by the Government of Japan, and a USD 300 million loan from the Bank's Special Program for Ukraine and Moldova (SPUR) Crisis Fund.