Ukraine has adopted a plan for a series of reforms that will allow the EU to provide up to €50 billion over the next four years, Prime Minister Denys Shmyhal said on March 18.
In a post on Telegram, Shmyhal said the reforms – part of the Ukraine Facility initiative – would be wide-ranging, covering “public administration, fight against corruption, economic and sectoral reforms in various spheres: from the energy to the agricultural sector.”
“In addition, the document prescribes cross-cutting directions such as “green” transition, digitalization, European integration,” he added.
The implementation of the reforms will be monitored using more than 100 quarterly indicators.
The EU approved the four-year Ukraine Facility in February, allocating 33 billion euros ($36 billion) in loans and 17 billion euros ($18.6 billion) in grants.
From the overall sum, 2 billion euros ($2.17 billion) are allocated to migration and border management, 7.6 billion euros ($8.2 billion) to neighborhood and international relations, 1.5 billion euros ($1.63 billion) for the European Defense Fund, 2 billion euros ($2.17 billion) for the flexibility instrument, and 1.5 billion ($1.63 billion) for Solidarity and Emergency Aid Reserve.