Klimkin warns: Without reforms, the EU may cut Ukraine’s financial support
Former Ukrainian Foreign Minister Pavlo Klimkin, in his latest video blog 'Klimkin Explains' on YouTube, has addressed critical issues concerning Ukraine's reforms and the European Union's financial assistance policies.
He emphasized that EU institutions have made it clear that without implementing essential reforms within Ukraine, especially in the areas of governance and anti-corruption measures, financial aid to Kyiv might be reduced or completely halted.
Currently, under the Ukraine Facility mechanism, Ukraine was promised 4.5 billion euros; however, due to delays and failure to fulfill three key reforms, approximately 1.5 billion euros, equating to around 70 billion hryvnias, remain unpaid.
This amount is especially significant in the context of wartime Ukraine, where every financial resource counts toward strengthening the country's defense and stability.
Klimkin noted that despite economic difficulties within EU member states, Brussels remains committed to supporting Ukraine but warned that if Kyiv fails to meet its reform obligations, Europeans will find reasons to withhold funding.
He added that some losses could still be compensated if Ukraine successfully completes three necessary reforms within the next year, reforms that do not include issues related to the independence of NAБУ and SAP.
The total aid under the Ukraine Facility program amounts to 50 billion euros, serving as a vital instrument in Ukraine's ongoing support amidst the ongoing conflict.
Earlier, Verkhovna Rada committee head Danilo Hetmanets highlighted that European partners are not willing to give money to Ukraine unconditionally, especially during wartime.
Supporting agreements are crucial, including Ukraine's commitments under the Ukraine Facility program.
It is expected that the fourth tranche of aid will be smaller — 3.05 billion euros instead of 4.5 billion — and that it will arrive later than planned, possibly by the end of August rather than in May.