Ukraine and EU tighten control over financial aid under Ukraine aid program

The document was signed by the Minister of Finance of Ukraine Serhiy Marchenko and the Chairman of the Council for the Audit of Public Funds of Ukraine Marek Belka, reports a Ukrinform correspondent, citing the Ministry of Finance of Ukraine.

The main objective of the memorandum is to strengthen financial management and control systems to ensure transparency in the implementation of the Program for Ukraine. The document includes the exchange of information, reports and other materials, as well as maintaining an active dialogue between the institutions, the ministry said.

“International support is the most important tool for ensuring financial stability in the context of a full-scale conflict. Since February 2022, Ukraine has been receiving significant budgetary assistance, in particular from the EU, which underlines the solidarity of the international community with our country and trust in the Ukrainian government. Transparency and accountability in the use of donor resources are of paramount importance for our cooperation,” Marchenko noted.

The European Commission established the Audit Board in June 2024 with a mandate until June 2028. Its task is to ensure the transparency and efficiency of the use of financial assistance under the Ukraine Fund, together with the Government of Ukraine. The Ukraine Fund allocates €50 billion to Ukraine for the period 2024–2027, of which €38.27 billion is intended for budget support.

In February 2025, the European Commission announced the completion of the formation of the Ukrainian Funds Audit Council, appointing three experts in the field of financial supervision and governance.

On the Ukrainian side, the Ministry of Finance has been appointed as the responsible body for auditing the implementation of the Ukrainian plan within the framework of the Ukrainian Fund.

We remind you that in 2024, Ukraine received 16.1 billion euros under the Ukraine program. In the coming days, the country expects the next tranche of 3.5 billion euros.

Photo: Ministry of Finance of Ukraine