In 2023, the European Union became the largest donor to Ukraine, having already disbursed EUR13.5 billion under the macro-financial assistance instrument and expecting to disburse another EUR4.5 billion by the end of the year, European Commissioner for Economic Affairs Paolo Gentiloni said.
“Overall, the progress is very good, and I am optimistic about the prospects that Ukraine will fulfill all the conditions by the end of 2024 and beyond,” he said on Wednesday at the 4th Ministerial Roundtable on Support to Ukraine at the IMF-World Bank (WB) meeting in Marrakech.
According to him, the EU and other international partners should be proud of the fact that they contributed to covering Ukraine’s financing gap both last year and this year, and thanks to this solidarity, Ukraine’s economy is in better shape today than many expected.
“We count on the support of all international partners. We also need to harmonize the conditions of support between international donors and international financial institutions to ensure their consistency,” the European Commissioner added, emphasizing that funding remains a key factor.
He noted that Ukraine has demonstrated the ability to continue to implement important economic reforms, recalling that the current conditions of the EU financial assistance include, among other things, judicial reform of Ukraine, improved regulation of economic activity and improved bankruptcy regime.
“The European Commission’s proposal to allocate $50 billion over the next four years will allow us to significantly help meet Ukraine’s financial needs,” Gentiloni said.
