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Ministers approve today a 50 billion plan to Support Ukraine
European Union (EU) finance ministers are set to approve a plan for 69 reforms and 10 investments in Ukraine through 2027, under the €50 billion Ukraine Support Facility.
© Lusa
Economia União Europeia
The discussion is part of the agenda of the meeting of EU finance ministers, today in Brussels, according to which the European officials in charge -- such as the Portuguese Joaquim Miranda Sarmento -- will make a "point of situation on the economic and financial impact of Russia's aggression" and will be informed about "the implementation of the Support Mechanism for Ukraine".
Within the scope of this point, the plan previously accepted by the European Commission with 69 reforms and 10 investments in Ukraine until 2027 should be approved, which require the fulfilment of 146 indicators for EU financial support.
European sources told Lusa that the document should be approved, since there is "no opposition" at the moment among the Member States.
At issue is the new Plan for Ukraine for the next four years, under the recently approved EU Support Mechanism for Ukraine, which aims to provide regular financial assistance to the country to keep the administration running, pay salaries and pensions, provide public services and to rebuild, while continuing to defend itself against the Russian invasion.
This year, European support should amount to 18 billion euros (out of a total of 50 billion euros), within the scope of this document that the European Commission approved and proposed that the Member States give the final 'green light' for the aid to proceed.
Brussels estimates that, if all the proposed reforms and investments are implemented, Ukraine's Gross Domestic Product (GDP) could increase by 6.2% by 2027 and by 14.2% by 2040.
After today's expected 'green light', the EU will then be able to advance with 1.89 billion euros of pre-financing, after having already disbursed 4.5 billion euros in March and mobilised 1.5 billion euros in April.
The idea is that these funds should be mobilised for Kiev for now in tranches and in the form of loans, as they are faster to operationalise.
In mid-February, the European Parliament and Council reached an agreement on financial assistance of 50 billion euros to Ukraine, within the scope of the revision of the EU's 2024-2027 Multiannual Financial Framework, after a 'green light' from European leaders, given days before.
Read Also: EUA assinalam Dia da Europa destacando parceria e apoio à Ucrânia (Portuguese version)
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