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The €50 billion provided by the Ukraine Facility program will not suffice for the reforms needed to join the EU


The Ukraine Facility program, which has by far allocated €50 billion, doesn’t cover all of Ukraine’s needs to implement the reforms associated with EU accession. Olha Stefanishyna, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine, said this at the yearly meeting of the European Business Association.

Quote"Opinions [about the UFP program] vary even in the European Commission, but I can certainly tell you, given the portion of the money provided by the Ukraine Facility, this certainly won’t be covered, so there will be additional funds and additional programs," said Olha Stefanishyna.

She underscored that the budget provided for the preparation to EU accession is "actually Ukraine’s only development budget."

All other assistance programs from international partners (the IMF programs, U.S. assistance, and macro-financial assistance from the EU) are "survival budgets".

Earlier, Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, mentioned the insufficiency of the Ukraine Facility: "The €50 billion provided by the program is not enough to meet all the needs."

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