The Cabinet of Ministers approved a plan to implement the European Union’s financial support program for Ukraine in 2024-2027. The program, known as the Ukraine Facility, is worth 50 billion euros. The Government portal reported this.

The program envisions a €6 billion transitional financing mechanism for the period leading up to its final launch.

Ukraine is implementing five indicators in the areas of public finance management, anti-corruption, business environment development, and land market functioning under relevant agreements. Three indicators have already been implemented, and the remaining two are currently in development. These steps are necessary to receive the funding.

The President of the European Commission, Ursula von der Leyen, stated that the Commission has already allocated the first tranche of 4.5 billion euros.

In April this year, Ukraine will receive an additional 1.5 billion euros after the European Commission assesses the fulfilled indicators.