EU Commission greenlights €4.1 billion for successful implementation of the Ukraine`s Plan Q3 2024 indicators

The European Commission has recommended to the EU Council to allocate almost EUR 4.1 billion for the fulfillment of the indicators of the third quarter of 2024 under the Ukraine Plan.

On November 13, 2024, the European Commission has published a proposal for a decision by the Council on Ukraine’s earlier request for financial support in the amount of almost EUR 4.1 billion under the Ukraine Plan. After the Council approves the decision to allocate funds, Ukraine will be able to receive this funding in late November or early December this year.

Importantly, out of this amount, €1.5 billion will be provided to us in the form of grants, which, together with concessional loans, will be used to pay state employees, recipients of pensions and other social benefits, to carry out other important public expenditures and to ease our situation in the context of war.

Previously, on October 10, Ukraine submitted to the EC evidence of the implementation of 8 out of 9 indicators agreed by the parties with a deadline of the third quarter of 2024.

Evidence of fulfillment of the ninth indicator 4.4 “entry into force of amendments to the Criminal Code and the Criminal Procedure Code of Ukraine (in terms of improving the procedure for plea bargaining)” Ukraine submitted on October 31, when the President signed the draft law No. 12039 supported by the Verkhovna Rada. It looked like jumping into the last carriage of a train that was already on the move, but the assessment ended on a positive note.

The nine satisfactorily completed steps relate to various reforms outlined in the Plan in the sections on anti-corruption and money laundering, human capital, business environment, decentralization and regional policy, energy, green transition and environmental protection, in particular:

– The Specialized Anti-Corruption Prosecutor’s Office was able to increase its staff;

– The Action Plan for the Implementation of the Asset Recovery Strategy for 2023-2025 was adopted;

– A comprehensive Demographic Development Strategy for the period up to 2040 was approved;

– The Deregulation Action Plan was approved;

– Amendments to the State Strategy for Regional Development for 2021-2027 were made;

– A concept note that defines the scope of deviations from the rules of environmental impact assessment and strategic environmental assessment was developed;

– Legislation on industrial pollution came into force;

– Secondary legislation on REMIT was adopted and entered into force;

– Finally, the laws amending the Criminal Code and the Criminal Procedure Code came into force.

As of now, Ukraine has successfully implemented 25 out of 36 indicators agreed for implementation in 2024. The remaining 11 remain to be implemented by the end of the fourth quarter of 2024.

The #RRR4U consortium continues to monitor the implementation of the IMF program and the EU’s Ukraine Plan.

This material was prepared with the support of the International Renaissance Foundation within the framework of the project ‘Empowering Ukraine on its way to the EU: Raising Awareness of IMF Financial Assistance’. The material reflects the position of the authors and does not necessarily reflect the position of the International Renaissance Foundation.