Reforms Approved by the Verkhovna Rada Will Unlock Over EUR 2 Billion in Funding, Says Kos

The recent approval of legislative reforms by the Verkhovna Rada of Ukraine, which are aligned with the European Union's expectations and serve as structural benchmarks for the International Monetary Fund (IMF) funding program, has created an opportunity for Ukraine to secure over EUR 2 billion in financial resources. This assertion was made by Marta Kos, the European Commissioner for Enlargement, in a statement on the social media platform X.

Kos emphasized the significance of these reforms, stating, "I welcome the positive progress in the Verkhovna Rada as the Ukrainian parliament has passed important laws related to EU and IMF reforms. This will help unlock over EUR 2 billion in crucial funding to stabilize Ukraine's liquidity needs by summer. It also demonstrates the unwavering commitment of the Rada to Ukraine's path towards the EU."

According to information released, on April 7 and 8, the Verkhovna Rada supported two bills that are structural benchmarks of the new IMF funding program. The first bill, No. 15111-d, pertains to the automatic exchange of information regarding income on digital platforms and was adopted in its first reading. The second bill, No. 15110, extends the military tax for three years following the end of martial law and was adopted in its entirety.

Additionally, the Verkhovna Rada passed two laws that serve as indicators for the Ukraine Facility program. Bill No. 14005 concerns the digitization of executive proceedings, while No. 12087-d addresses integration into the EU energy market. Another bill, No. 14412, which relates to the principles of delineation and distribution of powers among levels of public governance, was also adopted in its first reading.

These legislative steps are crucial for Ukraine in the context of its European integration and economic stability. Securing funding exceeding EUR 2 billion could significantly improve the situation in the country, especially amid the ongoing war and the economic challenges faced by Ukrainian society.

It is important to note that support from international partners, such as the European Union and the IMF, is critically important for Ukraine at this time. The implementation of the mentioned reforms will not only ensure financial support but also strengthen the institutional capacity of the country, which in turn will help Ukraine move closer to European standards.

Thus, the passage of these bills by the Verkhovna Rada marks a significant step towards stability and development for Ukraine, which will undoubtedly be positively received both domestically and internationally.