Establishing the Ukraine Facility: Financing Ukraine's recovery and its path to EU accession

Briefing 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. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.