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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 ...

This briefing will give a brief overview of the EU-Russia sanctions framework, before discussing existing EU tools for protecting its financial interests, access to beneficial ownership data and EU initiatives to ensure sanctions enforcement. It serves as background information for the CONT Committee workshop of 6 November 2023 on ‘Preventing EU funds from reaching sanctioned individuals or entities’.

Spain's National Recovery and Resilience Plan (NRRP) is the second largest (in absolute figures) financed by the Next Generation EU (NGEU) recovery instrument and its main spending tool, the Recovery and Resilience Facility (RRF). Following the October 2023 amendment of the Spanish NRRP, to which a REPowerEU chapter was added, the plan's worth reached €163 billion (or 13.1 % of national gross domestic product (GDP) in 2019), which is an increase of roughly 135 % compared with the original (2021) ...

Ireland's National Recovery and Resilience Plan (NRRP) is relatively small compared with most Member States' plans. In absolute terms and per capita, Ireland has the second smallest allocation (after Luxembourg) under the Recovery and Resilience Facility (RRF)  initially €989 million, and following the European Commission's update of national allocations, €914.4 million in grants, to be disbursed in five instalments. Ireland has not requested loans and has not submitted a REPowerEU chapter. In May ...

Romania's National Recovery and Resilience Plan (NRRP) embodies an ambitious agenda of reforms and investment aimed at mitigating the socio economic effects of the COVID-19 crisis. The total cost of the plan amounts to €29.2 billion, or 13.1 % of the country's 2019 gross domestic product (GDP). This allocation, corresponding to 4 % of the total volume of the Recovery and Resilience Facility (RRF), comes with €14.2 billion in grants and €14.9 billion in loans. In June 2022, Romania's grant allocation ...

A multi-ethnic country, Montenegro is composed of Montenegrins (43 %), Serbs (32 %), Bosniaks (7.8 %) and Albanians (5 %). In a May 2006 referendum, 55.5 % of the electorate voted for independence. Public opinion surveys show that almost 80 % of Montenegrins are in favour of joining the EU. On 2 April 2023, after securing 59 % of votes in a presidential election run-off, Montenegro's former Economy Minister Jakov Milatović declared victory over the incumbent, Milo Đukanović, who had been president ...

The Ukraine Facility has been designed to support Ukraine, its recovery and its path to EU accession, with up to €50 billion for the period from 2024 to 2027. The Commission has proposed a draft regulation, on which the Committees on Budgets (BUDG) and Foreign Affairs (AFET) jointly adopted a report on 5 October 2023. A partial vote is envisaged in the October II plenary, setting a mandate for subsequent trilogue negotiations. To finance the Facility, a revision of the multiannual financial framework ...

Malta's National Recovery and Resilience Plan (NRRP) had an initial value of €344.9 million, while its amended plan is worth €336.3 million. Under the EU's Recovery and Resilience Facility (RRF), at the core of the Next Generation EU (NGEU) instrument, Malta's RRF grant allocation decreased from €316.4 million to €258.3 million. In April 2023, Malta submitted a request to amend its NRRP, to which it added a new REPowerEU chapter with an additional grant allocation of €30 million. It also requested ...

Estonia's National Recovery and Resilience Plan (NRRP) – one of the last NRRPs submitted to the European Commission – sets out the reforms and public investment projects Estonia intends to implement with the support of the Recovery and Resilience Facility (RRF). The RRF is one of the main components of Next Generation EU, an EU instrument to counter the impact of the COVID-19 pandemic. Estonia's plan is one of the smallest in the EU in terms of the total amount allocated. However, when taking into ...

On 13 September 2023, Kim Jong-un, leader of the Democratic People's Republic of Korea (DPRK or North Korea), met with President Putin at the Vostochny Cosmodrome (spaceport) in the Amur region in Russia's far east. Although very little is known about what they discussed, many observers assume that one of the topics involved hammering out the details of a deal whereby North Korea would help Russia replenish its stocks of artillery shells and send a considerable number of workers to staff Russian ...