Ukraine to receive EU macro-financial assistance after IMF approval – EU commissioner

EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi said this during a conference call with Ukrainian Foreign Minister Dmytro Kuleba on Thursday, the press service of the Foreign Ministry reported.

As noted, the minister informed the EU commissioner about the progress of European integration reforms in Ukraine, the adoption of important legislative acts, in particular the law on banking activity.

“The EU commissioner welcomed this decision of the Ukrainian parliament and added that Ukraine had fulfilled all the conditions for the allocation of further macro-financial assistance by the EU. As soon as the International Monetary Fund provides its final assessment and approves further cooperation with Ukraine, the EU will be ready to disburse the second tranche under the fourth macro-financial assistance program in the amount of EUR 500 million immediately,” the report reads.

Kuleba thanked for the initiative of the European Commission to provide Ukraine with EUR 1.2 billion of special macro-financial assistance to stabilize the economy due to the coronavirus pandemic.

In turn, Várhelyi praised Ukraine’s resolve in responding to the COVID-19 pandemic, noting that the Ukrainian side acted quickly, and this was of vital importance.

As Ukrinform reported, the Verkhovna Rada passed at second reading and as a whole a bill introducing amendments to certain legislative acts of Ukraine to improve certain mechanisms for regulating banking activity. A total of 270 lawmakers voted for the bill at a parliament meeting on May 13.

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