Tuesday, 02 January 2024 12:17 GMT

European Commission Proposes Amendments To Ukraine Facility Plan


(MENAFN- UkrinForm) Commission Spokesperson Guillaume Mercier said this in a comment to a Ukrinform correspondent.

"Following the Commission's assessment, the Commission adopted and submitted its proposal to amend the Plan to the Council on 18 September," Mercier said.

He noted that the proposed changes aim to make the plan more practical and effective under current conditions.

"For example, some deadlines in the energy and financial markets chapter will be brought forward. This includes the adoption of the electricity integration package and clearer descriptions of reform steps, all designed to ensure smoother implementation," the Spokesperson explained.

Mercier emphasized the importance of strict and ambitious conditions attached to the Ukraine Plan, which will support Ukraine's continued progress.

"It is now for the Council to make further changes or to adopt the amended plan," he added.

Ukraine requested a review of its reform plan on August 7, as allowed under the Ukraine Facility regulation, Mercier noted.

When the EU Council first evaluated the Ukraine Plan in 2024, it was based on an IMF scenario assuming Russia's military aggression would end that year. Since the war continues, such revisions were expected, the Spokesperson explained.

Read also: European Commission ready to assess Ukraine's proposed amendments to Ukraine Facility plan

As previously reported, on September 9, the European Commission published its annual report on the Ukraine Facility financial support program, concluding that it helps Ukraine accelerate its path toward EU accession.

The Ukraine Facility is a key EU instrument addressing the major and complex challenges Ukraine faces due to Russia's military aggression. By consolidating EU budget support into a single mechanism, the Ukraine Facility aims to provide Ukraine with EUR 50 billion in coordinated, predictable, and flexible financing from 2024–2027.

The program's main objectives include supporting Ukraine's financial needs and reconstruction, mobilizing investments, and promoting reforms necessary for EU membership.

Illustrative photo: Pixabay

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