On Tuesday, European Union (EU) finance ministers are expected to approve a plan including 69 reforms and 10 investments in Ukraine until 2027 under the €50 billion Ukraine Support Facility.
The discussion is on the agenda for Tuesday’s meeting of EU finance ministers in Brussels, under which European supervisors such as Portugal’s Joaquim Miranda Sarmento will take “status on the economic and financial consequences of Russian aggression” and be briefed on the “implementation of the Support Mechanism Ukraine”.
As part of this item, the plan previously adopted by the European Commission with 69 reforms and 10 investments in Ukraine until 2027, which require compliance with 146 indicators of EU financial support, must be approved.
European sources told Lusa that the document should be approved because there is currently “no opposition” among member states.
This is a new Plan for Ukraine for the next four years under the recently approved EU Ukraine Support Mechanism, which aims to provide regular financial assistance to the country to maintain the administration, pay salaries and pensions, provide public services and rebuild. themselves while continuing to defend against Russian invasion.
European support is expected to amount to 18 billion euros this year (out of a total of 50 billion euros) as part of the document, approved by the European Commission and which asks member states to give the final green light for assistance. forward.
Brussels estimates that if all proposed reforms and investments are implemented, Ukraine’s gross domestic product (GDP) could increase by 6.2% by 2027 and 14.2% by 2040.
With the expected green light on Tuesday, the EU will be able to move forward with €1.89 billion in pre-funding after already disbursing €4.5 billion in March and mobilizing €1.5 billion in April.
The idea is that these funds will now be mobilized to Kyiv in tranches and in the form of loans, as they are put into operation faster.
In mid-February, the EU Parliament and Council reached an agreement on financial assistance to Ukraine in the amount of 50 billion euros as part of the revision of the EU Multiannual Financial Framework for 2024-2027, after the green light from European leaders, taking into account the days before.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.