In June 2023, the European Commission presented a New Ukraine Facility of €50 billion. This plan may undergo a number of modifications given that the war started by Russia against Ukraine continues, and that the timing of its end is unpredictable. This paper examines the priorities and challenges faced by the European Union regarding the Ukraine Facility during the next four years; what role will the European Union as a whole and the member states individually play in this process? What are the priorities (e.g. three pillars of the Facility) and challenges that the EU will face in the process of the reconstruction of Ukraine? It is also important to underline that this will not be a unilateral process on the part of the European Union; Ukraine itself will take an active part in identifying the reforms and investments that it intends to undertake.
In general, both the Ukraine Facility Regulation and the Ukraine Plan will give the Ukrainian people “an opportunity to contribute to the country’s sustainable recovery from the devastation wrought by Russia’s war of aggression”
