EU to allocate EUR 500 mln in macro-financial assistance to Ukraine in a few weeks

EU to allocate EUR 500 mln in macro-financial assistance to Ukraine in a few weeks

The first tranche of the macro-financial assistance of the European Union in the amount of EUR 500 million will be allocated to Ukraine in the coming weeks.

 “I and Vice-President of the European Commission Valdis Dombrovskis have discussed that EUR 500 million in macro-financial assistance will be allocated in the near future, in a few weeks,” President of Ukraine Petro Poroshenko told journalists in Helsinki, an Ukrinform correspondent reports.

In addition, according to Poroshenko, Ukraine will be given assistance in cooperation with the IMF.

As reported, on September 14, Ukraine and the EU signed a Memorandum of Understanding and the Loan Agreement between the EU and the National Bank of Ukraine on the EU’s macro-financial assistance program in the amount of EUR 1 billion.

The Memorandum of Understanding defines a list of measures for the implementation of structural reforms in public finance management. It is also touches upon the good governance and combating corruption, sectoral reforms, social policy and management in state-owned companies.

The European Union’s program of macro-financial assistance to Ukraine in the amount of EUR 1 billion contains 18 conditions: six of them should be fulfilled to get the first tranche, while 12 should be met to receive the second tranche.

November 7-8, President of Ukraine Petro Poroshenko makes a working visit to Finland.


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