The Ukrainian Finance Ministry and the Ukraine Facility Audit Board have signed a memorandum to strengthen control over the effective use of financial assistance provided by the European Union.
The relevant document was signed by Ukrainian Finance Minister Sergii Marchenko and Ukraine Facility Audit Board Chair Marek Belka, an Ukrinform correspondent reports, referring to the Ukrainian Finance Ministry.
The above memorandum aims to strengthen financial management and oversight systems while ensuring transparency in the implementation of the Ukraine Facility. It provides for the exchange of information, reports, and other documents, as well as maintaining an active dialogue between institutions, according to the ministry.
“International support is a crucial instrument for ensuring financial stability amid the full-scale war. Since February 2022, Ukraine has received substantial budgetary support, particularly from the EU, which reflects the solidarity of the international community with our country and trust in Ukraine’s Government. Transparency and accountability in the use of donor funds are key to our cooperation,” Marchenko noted.
The European Commission established the Audit Board in June 2024, with a mandate lasting until June 2028. Its mission is to ensure transparency and efficiency in the use of financial assistance under the Ukraine Facility, in cooperation with the Government of Ukraine. The Ukraine Facility provides EUR 50 billion to Ukraine for 2024-2027, of which EUR 38.27 billion is allocated for budgetary support.
In February 2025, the European Commission announced the completion of the formation of the Ukraine Facility Audit Board, appointing three experts in financial oversight and management.
On the Ukrainian side, the Finance Ministry has been designated as the responsible authority for auditing the implementation of the Ukraine Plan under the Ukraine Facility.
A reminder that Ukraine obtained EUR 16.1 billion under the Ukraine Facility during 2024. In the coming days, the country expects to receive the next tranche of EUR 3.5 billion.
Photo: Ukrainian Finance Ministry
Source: Ukraine, EU strengthen control over financial assistance under Ukraine Facility
