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Deputy Finance Minister: Next tranche of EU financial assistance suspended until early 2017
13:29, 30 September 2016
Deputy Finance Minister: Next tranche of EU financial assistance suspended until early 2017

Ukraine failed to pass the necessary legislation in good time, official explained

13:29, 30 September 2016

AP Photo/Michael Probst

‘The third tranche worth 600 million Euros has been suspended. We expect to get it in early 2017’, Yuriy Butsa, Ukraine’s Deputy Finance minister, said at a financial forum in Kyiv on Friday, as quoted by Interfax-Ukraine.

According to him, the delay took place due to Ukraine’s failure to pass the necessary laws on time, which is the condition of receiving the third tranche of financial assistance from the EU. ‘We expected to get two of them this year – each tranche worth 600 million Euros. Since the Parliament only recently passed the law about the National Committee for Regulation of Energy and Utility Services, we just received the second tranche, and we now understand we won’t comply with the conditions to get the third one in time’, Butsa said. He added that among the necessary bills there are laws about state service and service in municipal authorities.

Earlier this month, Ukraine received the 1 billion Euros-large loan of financial assistance from the IMF.

Source: Interfax-Ukraine

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