Trilogue concluded: Ukraine Facility is decided

The Ukraine Facility is a €50 billion support package designed by the EU to help Ukraine maintain financial stability and stimulate recovery. The package, which consists of loans and grants, will be disbursed over the period 2004-2027 and was approved by the European Parliament in October 2023. Subsequently, as a result of very intensive inter-institutional negotiations between the Parliament, the European Commission and the Council, the three institutions agreed on the final text of the law on February 5, 2024.

MEP Viola von Cramon, co-negotiator on behalf of the Greens/EFA Group in the European Parliament, commented on the outcome:

„It was a very long night of negotiations and very intense weeks are behind us. Our efforts have paid off and we have managed to agree on a satisfying text that paves the way for the urgent delivery of essential aid to Ukraine. Our group was particularly active in pushing for more transparency, oversight and wider democratic participation in the distribution of funds. Among many pertinent points, we managed to enshrine in the text:

– Ukraine’s EU membership aspirations require all democratic institutions, especially the Verkhovna Rada, to play a leading role in deciding and approving the design of Ukraine’s recovery. This is why we agreed the Rada would be involved in all stages of the Facility from its approval to drafting the „Ukraine Plan“.

– Ukrainians at all levels of government are showing incredible courage. It is only fair that local communities and cities have a say in how the aid is distributed. Local officials know better than the central government what the exact needs of the local population are. This is why we managed to increase the level of participation of the municipalities and cities in designing and managing projects financed through the facility.

– Extraordinary assistance requires extraordinary transparency and oversight. That is why we have built in multiple mechanisms to increase government accountability through inter-institutional reporting and publication of information. Local and international NGOs will have access to data, decision-making and multiple avenues to alert stakeholders if irregularities are detected.

The Ukrainian facility is an essential tool to maintain Ukrainian statehood and much-needed financial stability while we increase military support and crack down on sanctions evasion to accelerate Ukraine’s inevitable victory“