The Delegation of the European Union to Yemen

EU and Ukraine sign EUR 55.5 mln programme to facilitate reform of Public Financial Management

Bruxelles, 09/01/2019 - 15:23, UNIQUE ID: 190109_4
Press releases

On December 12, 2018, First Vice Prime Minister of Ukraine and Minister of Economic Development and Trade Stepan Kubiv and Head of Support Group for Ukraine at the Directorate General for Neighbourhood and Enlargement Negotiations of European Commission Peter Wagner signed the Financing Agreement on the launch of the new EU support programme to strengthen Public Financial Management (PFM) system in Ukraine.

The new programme EU4PFM aims at assisting the Ukrainian authorities in:

  • Strengthening the budget process and public sector accounting, as well as control and audit of public funds
  • Enhancing efficiency of public expenditure management
  • Improving tax and customs administration through a modern and transparent revenue collection system.

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 implementation of automation solutions in selected priority areas. The programme will support the 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 EUR 55.5 mln to which the EU contributes EUR 50 mln; Sweden and Lithuania contribute EUR 5 mln and EUR 0.5 mln, respectively.

A strong Public Financial Management system is essential for sound management of taxpayers’ money, effective and sustainable management of budget resources, transparent trade and business climate and, ultimately, for better public service delivery. Through the new programme, the EU aims at facilitating the development of a modern public financial management system in Ukraine that would be in line with the fundamental principles of public sector accountability, transparency, economy, efficiency, and would be able to provide high-quality public services. The new assistance programme will support the implementation of the government's Public Financial Management Strategy and will help Ukraine to honour its commitments under the EU-Ukraine Association Agreement.

For additional information, please contact

Editorial Sections: