Establishing the Ukraine Facility

The Ukraine Facility will support Ukraine, its recovery and its path to EU accession, with up to €50 billion in grants and loans provided in the years 2024 to 2027. On 6 February 2024, the European Parliament and the Council came to a political agreement on the establishment of the Ukraine Facility, following up on the agreement in the European Council on the revision of the EU's multiannual financial framework (MFF). The MFF should finance the grants and guarantee the loans of the Facility. Additional financing is expected to come from frozen Russian assets. The European Parliament managed to secure an enhanced role for the European and Ukrainian Parliaments as well as Ukrainian civil society in scrutinising the use of the Facility.