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

Briefing 21-11-2023

The Ukraine Facility is designed to support Ukraine, its recovery and its path to EU accession, allocating up to €50 billion for 2024 to 2027. The Facility will: provide Ukraine with direct financial support in the form of grants and loans ('Pillar I'); mobilise private investment in Ukraine by providing guarantees and blended finance ('Pillar II'); and finance assistance and capacity-building programmes for Ukraine's central, regional and municipal tiers of government and civil society to help them achieve the EU acquis and standards ('Pillar III'). The proposal is subject to the ordinary legislative procedure, and in Parliament the file was allocated to the Committees on Foreign Affairs and on Budgets under the joint committee procedure. Following swift consideration by the committees, Parliament adopted its negotiating position in a plenary vote on 16 October 2023. Trilogue negotiations can start as soon as the Council agrees upon its position. Second edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.