EU to disburse EUR 500 mln to Ukraine when commitments to IMF met - Dombrovskis

The European Union has agreed to disburse the second installment of EUR 500 million in macro-financial assistance to Ukraine and is ready to transfer the funds as soon as Ukraine fulfills its commitments to the International Monetary Fund (IMF).

Executive Vice-President of the European Commission Valdis Dombrovskis said this in a press statement after a meeting with Ukrainian Prime Minister Oleksiy Honcharuk in Brussels on Tuesday, January 28, according to an Ukrinform correspondent.

"According to our preliminary assessment, the specific policy conditions for disbursing the second installment of EUR 500 million have been met. We also welcome the agreement that Ukraine reached with International Monetary Fund staff in early December on a new 3-year program under the Extended Fund Facility. We now look forward to Ukraine's implementation of the key prior actions agreed with the International Monetary Fund. On our side, we have already launched the relevant procedures, and disbursement will take place as soon as the conditions for the IMF program are completed," Dombrovskis said.

He said the European Commission is impressed by the amount of reforms that the Ukrainian government has launched over the last months. He also added that the Ukrainian government has made impressive progress on reforms – to strengthen the rule of law, tackle corruption and root out vested interests in the economy and politics. Success in these areas is vital to bring Ukraine closer to the EU, Dombrovskis said.

He also reaffirmed the EU's unwavering position in support of the sovereignty and territorial integrity of Ukraine.

"Last night, with no discussion, EU Ambassadors prolonged the sanctions concerning restrictive measures in respect of action that undermines or threatens the territorial integrity, sovereignty and independence of Ukraine. I want to repeat again that the EU continues to support Ukraine's sovereignty and territorial integrity," Dombrovskis said.

He said that the current meeting of the EU-Ukraine Association Council marks another milestone in bilateral relations.

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