EU and Ukraine sign new programme to facilitate reform of public financial management

Photo: European Union
Photo: European Union

In December 2018, Ukraine and EU signed an agreement on the launch of the new EU support programme to strengthen the public financial management system in Ukraine.

The new programme aims at assisting the Ukrainian authorities in strengthening the budget process and public sector accounting, enhancing efficiency of public expenditure management, improving tax and customs administration through a modern and transparent revenue collection system.

According to the EU, the assistance provided will be multi-faceted, from expert advice and trainings on sectoral reforms, to organisational and institutional capacity building in line ministries and agencies, to the implementation of automation solutions in selected priority areas.

The programme will support the country’s Ministry of Finance, the Ministry of Economic Development and Trade as well as other ministries, tax and customs administration, the Treasury Service, the Accounting Chamber and the State Audit Service.

The programme will be largely implemented by EU partners: the World Bank Group, the International Monetary Fund, Lithuania's Central Project Management Agency, and Sweden's International Development Cooperation Agency.

The overall package of assistance is €55.5 million to which the EU contributes €50 million; Sweden and Lithuania contribute €5 million and €0.5 million, respectively.

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Press release