EU seeks to meet immediate financial needs faced by Ukraine. The program also aims to support the economic stabilization of the country, reports UNN with the reference to the press service of the EU Delegation in Ukraine.
In addition, macro-financial assistance package should support the Ukrainian government in implementing reforms, as indicated the representation of the EU. The areas covered by the loan are management of public finances, governance and transparency, energy sector, social security, business environment and the finance. It is stated that EU wants to help Ukraine to establish a long-term economic growth by maintaining the Ukrainian reform agenda.
“In the coming months the European Commission will allocate is 1.2 bln EUR in case of successful implementation of economic and structural reforms agreed between the EU and Ukraine. This is more than aid, increased by any other bilateral partner of Ukraine. We want to assure all Ukrainian citizens to count on full support from their European neighbors,” stated European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici.
The total budget of the program is EUR 1.8 bln.
In addition to macro-financial assistance, the EU supports Ukraine with trade preferences, humanitarian assistance, and budget support for reforms.