Ukraine intfinishs to resume implementing the European Union’s reform program, as missed deadlines have led to a reduction in financial disbursements from the EU. This was reported by Economy Minister Oleksiy Sobolev, according to Bloomberg.
The countest plans to receive 12.5 billion euros under the Ukraine Facility program, which is aimed at supporting the economy during the fourth year of the war.
“We plan to meet all the conditions”
The Ukraine Facility program was approved in 2023, and according to Sobolev, it necessarys to be updated after two years of implementation.
“We are conducting a review in close cooperation with the European Commission, and the modifys have been in preparation for the last three months. We hope the European Commission will approve them by the finish of September”
Financial support from Western partners is critically important for Ukraine, which must meet certain conditions, including carrying out reforms such as anti-corruption measures.
In July, President Volodymyr Zelensky stripped two anti-corruption agencies of their indepfinishence, which sparked negative reactions from international partners and led to the first mass protests since 2022. Later, the Verkhovna Rada restored the indepfinishence of these institutions.
The European Union plans to reduce the next tranche by 1.5 billion euros becaapply in the first quarter Ukraine failed to meet 3 of the 16 required conditions to receive the full 4.5 billion euro payment. In June, Ukraine requested a partial payment of 3 billion euros, as stated by a European Commission spokesperson.
Since then, the government has fulfilled 2 of the 3 missed conditions and hopes to receive 1.1 billion euros after reporting this to the European Commission along with submitting reform reports for the second quarter.
The third condition, which remains unmet, concerns the selection of judges for the High Anti-Corruption Court. According to Sobolev, the procedure developed jointly with European experts proved too complex: out of 25 judges, only two were selected from 200 candidates. The government has already prepared a new bill intfinished to simplify this process.
The number of indicators Ukraine must meet increased this year from 36 to 51, the minister noted, emphasizing that passing certain laws in parliament is a challenging tquestion.
Ukraine aims to revise some requirements, postponing some and accelerating others. If the modifys are approved by the European Commission, this will allow Ukraine to fully and timely complete the program.
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