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Adopted text

Establishing the Ukraine Facility

TA-9-2023-0363 · P9_TA(2023)0363 · PE751.825

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Parliament's amended version of the Commission proposal sets up the Ukraine Facility, a single instrument providing up to EUR 50 billion for Ukraine from 2024 to 2027. Support is organised around three pillars: financial support for the Ukraine Plan, a Ukraine Investment Framework, and accession assistance. The Ukraine Plan, prepared by Ukraine and approved by the Verkhovna Rada, sets out reforms and investments with conditions for payment. Payments depend on Ukraine upholding democratic mechanisms and on satisfactory fulfilment of conditions; the Commission may withhold or reduce support. An Audit Board, transparency rules and protection of the Union's financial interests are established, and Russia is to pay for the damage caused.

Key points

  1. The Facility provides assistance to Ukraine under three pillars: financial support for the Ukraine Plan, a Ukraine Investment Framework, and accession assistance.
  2. The overall maximum Union support is EUR 50 billion for 2024 to 2027, with an indicative distribution of 75% non-repayable support, 16% for the investment framework and 8% for accession assistance.
  3. Ukraine must prepare a Ukraine Plan with reforms, investments, qualitative and quantitative steps and an indicative timetable; measures started from 1 January 2023 are eligible.
  4. Support requires Ukraine to uphold democratic mechanisms, the rule of law, human rights and free elections; the Commission monitors this precondition and may suspend payments.
  5. Payments are made quarterly upon Ukraine's request and the Commission's assessment of satisfactory fulfilment; unfulfilled steps lead to withholding and possible reduction after twelve months.
  6. Loans have a maximum duration of 35 years, repayment of principal does not start before 2034, and the Facility may cover interest and administrative costs from 2024 to 2027.
  7. Ukraine may receive pre-financing of up to 7% of the non-repayable support and loan, and limited exceptional support of up to EUR 1.5 billion monthly if the Plan is not adopted by 31 December 2023.
  8. A Ukraine Guarantee of EUR 8.914 billion is established with an initial provisioning rate of 70%, and at least 35% of guarantees under Pillar II must support micro, small and medium-sized enterprises.
  9. Ukraine must publish data on final beneficiaries receiving more than EUR 100 000 and a list of the 2 000 largest final beneficiaries; a register of companies under oligarchic influence is to be established.
  10. An independent Audit Board is set up to provide assurance, report to the Commission and EPPO, and recommend recovery of amounts; it is funded under Chapter V.
  11. The Commission and Ukraine must protect the Union's financial interests, including preventing fraud and corruption, recovering misused funds and reporting suspected cases to OLAF and the EPPO.
  12. Russia and its allies must pay for the damage caused; a legal mechanism allows confiscated Russian assets or proceeds to be added as external assigned revenue and used as grants.

Who is affected

  • Ukraine: must prepare and implement the Ukraine Plan, meet conditions and uphold democratic mechanisms to receive support.
  • Ukrainian regions, municipalities and civil society: must be consulted and involved in the Plan and reconstruction.
  • Private companies, municipalities and state-owned enterprises: can receive investment support under the Ukraine Investment Framework.
  • Member States, third countries and international organisations: may provide additional financial contributions to the Facility.
  • Recipients of Union funding: must acknowledge the origin and visibility of Union funding.

Figures and deadlines

  • EUR 50 billion: overall maximum Union support for 2024 to 2027.
  • 75%: indicative share of non-repayable financial support, of which at least 15% for sub-national authorities.
  • 16%: indicative share for the Ukraine Investment Framework.
  • 8%: indicative share for accession assistance.
  • up to 1%: indicative share for technical and administrative assistance.
  • EUR 8 914 000 000: amount of the Ukraine Guarantee.
  • 70%: initial provisioning rate for the Ukraine Guarantee.
  • EUR 100 000: threshold above which data on final beneficiaries must be published.

Legal basis: Article 212 and Article 322(1) of the Treaty on the Functioning of the European Union.