First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko and European Commission’s Director-General for Neighbourhood and Enlargement Negotiations Gert Jan Koopman discussed progress in the preparation of the Ukraine Plan under the EU’s Ukraine Facility programme. The parties agreed on the further schedule of meetings, the list of documents required for approval and the deadlines for the approval of key stages of the plan.

“The Ukraine Facility programme should not only become the basis for Ukraine’s recovery and European integration, but also ensure the country’s internal transformation, implement economic reforms and stimulate the development of priority sectors of the economy. We believe that the EU will be able to approve the entire Ukraine Facility programme by the end of November, so that the allocation of funds for next year can be approved in December as part of the EU budgetary process,” said Yuliia Svyrydenko.

According to the First Deputy Prime Minister, the work carried out under the Ukraine Facility programme will form the basis for further negotiations with a wider range of partner countries and financial institutions. Indeed, the financing needs far exceed the scope of the programme, which envisages EUR 50 billion in EU funds for Ukraine – the real needs for reconstruction are estimated at no less than EUR 400-500 billion.

For his part, Gert Jan Koopman praised the high pace and quality of the preparation of the documents required for the approval of the plan by the Ukrainian Government. According to him, the development of the Ukraine Facility programme is proceeding according to the previously approved schedule and he hopes that the parties will be able to agree on all its stages in accordance with the already approved deadlines.

Background:

Ukraine Plan will reflect a comprehensive vision of the country’s recovery and development over the next four years and will tentatively consist of the following key pillars:

- Macro-financial scenarios for recovery;

- Major reforms;

- Sectoral reforms, including policies on state assets and privatisation; human capital, business climate and financial markets;

- Strategies for the development of strategic sectors of the economy;

The plan will also include sections on European integration, digitalisation, regional development and climate.