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1. The Commission shall monitor the implementation of the Facility and assess the achievement of the objectives set out in Article 3. The monitoring of that implementation shall be targeted and proportionate to the activities carried out under the Facility.

2. The financing agreements referred to in Article 10 and the loan agreement referred to in Article 22 shall set out rules and procedures for Ukraine to report to the Commission for the purpose of paragraph 1 of this Article. For the purpose of such reporting, Ukrainian competent authorities should draw on regular consultation with the Verkhovna Rada, and other stakeholders including regional, local, urban and other public authorities, as well as with social partners and civil society organisations as set out in Article 14.

3. The Union support provided under the Ukraine Investment Framework shall be reported in accordance with Article 28(10).

4. The Commission shall provide simultaneously to the European Parliament and the Council an annual report on progress towards the achievement of the objectives of this Regulation, complemented by quarterly presentations on the state of play of the implementation of the Facility.

5. The Commission shall provide the report referred to in paragraph 4 of this Article to the committee referred to in Article 42.