The Council of Ministers has amended the scheme needed to obtain finances from the EU.
On August 1, the Ukrainian Council of Ministers sanctioned changes to the Ukraine Facility scheme, under which the nation secures monetary assistance from the European Union contingent on the level of reform execution.
This information was gathered from a communication by the Economy Minister, Alexei Sobolev, alongside a notice by People's Representative, Yaroslav Zheleznyak.
“Two years have elapsed since we initiated the preparation of the Ukraine Scheme. It is now the moment to revise our undertakings: adjusting the timelines—some lengthened, others even made shorter—as well as incorporating references to particular EU laws and refining the phrasing of the actions,” Sobolev elucidated the adjustments.
According to the minister, the prospect of alterations to the scheme was consented to with the European Commission from the very beginning and is stipulated in the Regulation establishing the Ukraine Facility. The Verkhovna Rada must endorse the new edition of the scheme by the close of September.
“The extent and substance of our pledges to our European collaborators stay unaltered… The modifications will have an effect on actions commencing in the third trimester of 2025, therefore we are already commencing to advance on the updated schedule. And we will accomplish certain duties more swiftly than we concurred with our associates when the Scheme was initially composed,” Sobolev supplemented.
What will be different at the Ukraine Facility?
MP Yaroslav Zheleznyak, for his part, released an inventory of revisions to the scheme sanctioned by the Council of Ministers:
- The transformation of the assortment process for civil service and the transformation of the digitalization of civil service administration are being delayed.
- The departments are being aligned with the novel designations.
- The institution of the Specialised District Administrative Tribunal and the Specialised Appellate Administrative Tribunal is deferred pending the coming into effect of the pertinent legislation.
- Instead of digitizing the judicial arrangement, it is proposed to institute a pilot initiative in 15 tribunals at the primary and appellate tiers.
- Revisions to the undertaking for the formation and application of a directory of bank accounts of individuals and safes.
- Laws concerning bank transactions will become effective sooner than intended. Concurrently, the timeframe for laws to enhance the resolution of distressed loans has been put off.
- A multitude of other crucial legislative transformations are also being adjourned.
- The framework for overseeing receipt of state assistance will vary, thus its operational date has also been deferred. The legislation will permit the introduction of specific aid programs to bolster enterprises.
- A fresh statute will also become effective, reinstating oversight over state assistance to enterprises by the Antimonopoly Committee.
- The closing date for the coming into effect of the statute on state veterans' policy is being delayed.
- A variety of government assurances to ensure the functioning of particular programs are now simply termed “investments.”
- The electricity market reformation will occur earlier, but the rescinding of the freeze on heating prices has been deferred for a year. The execution of the bill on rail transport liberalization has also been impeded.
- The most recent development is that governmental funding for demining agricultural land has been curtailed.
What is the Ukraine Facility?
The Ukraine Facility constitutes an EU financial tool conceived to aid Ukraine throughout the conflict and during the post-conflict restoration phase. The initiative earmarks €50 billion for 2024-2027.
Finances are supplied in the form of grants and credits and are employed for macro-financial support, redevelopment, reforms, and modernization. The deployment of finances is supervised via a specialized reporting and reform advancement assessment apparatus.
