2024-05-11 15:38:24
Ambassadors of 27 EU countries have preliminary approved a plan for Ukraine’s obligations to carry out reforms in exchange for receiving €50 billion in economic and budgetary assistance from the European Union until 2027. This was announced by the Belgian Presidency of the Council of the EU, Day.Az reports with reference to TASS.
On April 15, this plan was approved by the European Commission (EC), now it must be approved by the EU Council at ministerial level.
The EC promised that if Ukraine carries out all the reforms according to this plan, then by 2040 its GDP will grow by 14.2%.
Payments under the €50 billion program will be issued to Kyiv in stages, as its obligations are fulfilled. The EC previously announced that “to protect the financial interests of the European Union” an independent group of auditors will be created in May, which will help the European Commission prevent any misuse [украинцами] European funds”.
In reality, payments under the €50 billion program have already begun by the EC – currently €6 billion has been transferred to Ukraine in two tranches “in preliminary mode”, since without these funds Kyiv is not able to support its country’s budget. If the EU Council at the ministerial level approves this plan by the end of May, then the EC intends to transfer another €1.89 billion to Ukraine this month.