![Establishing the Ukraine Facility: Financing Ukraine’s recovery and its path to EU accession [EU Legislation in Progress]](https://i0.wp.com/epthinktank.eu/wp-content/uploads/2023/10/EPRS-Briefing-753954-Establishing-Ukraine-Facility-FINAL.png?fit=1000%2C666&ssl=1)
Written by Tim Peters (3rd edition, updated on 11.03.2024).
The Ukraine Facility supports Ukraine, its recovery and its path to EU accession, allocating up to €50 billion for 2024 to 2027. Regulation (EU) 2024/792 establishing the Ukraine Facility was adopted by the European Parliament and the Council in February 2024. The EU budget is supposed to finance the Facility’s €17 billion in grants and guarantee its €33 billion in loans. Additional financing is expected to come from frozen Russian assets. In the negotiations with the Council, the European Parliament managed to secure enhanced democratic control of the Facility by strengthening the rights of the European Parliament and the Verkhovna Rada, Ukraine’s parliament, while increasing transparency through the systematic involvement of Ukraine’s civil society and through the publication of the recipients of EU funds.
Complete version
- March 2024: Establishing the Ukraine Facility: Financing Ukraine’s recovery and its path to EU accession (3rd edition)
| Proposal for a regulation of the European Parliament and of the Council on establishing the Ukraine Facility | ||
| Committee responsible: | Foreign Affairs (AFET) and Budgets (BUDG) jointly under Rule 58 | COM(2023) 338 20.6.2023 |
| Co-rapporteurs: | Michael Gahler (EPP, Germany) Eider Gardiazabal Rubial (S&D, Spain) | 2023/0200(COD) |
| Shadow rapporteurs: | Petri Savaarma (EPP, Finland) Włodzimierz Cimoszewicz (S&D, Poland) Petras Auštrevičius (Renew, Lithuania) Vlad Gheorghe (Renew, Romania) Damian Boeselager (Greens/EFA, Germany) Viola von Cramon-Taubadel (Greens/EFA, Germany) Bogdan Rzońca (ECR, Poland) Witold Jan Waszczykowski (ECR, Poland) Dimitrios Papadimoulis (The Left, Greece) Mick Wallace (The Left, Ireland) | Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’) |
| Next steps expected: | Regulation (EU) 2024/792 OJ L, 29.2.2024 | |
Be the first to write a comment.