EUR 600 mln of macroeconomic assistance to reach Ukraine next week, - Poroshenko

Source : 112 Ukraine

The president said this while talking to the press after the European People’s Party summit in Malta
19:44, 30 March 2017

AP Photo/Michael Probst

Another tranche of the EU macro-financial assistance to Ukraine will be available already next week. Petro Poroshenko, Ukraine’s president, said this at a press briefing after the European People’s Party summit in Saint Julians, Malta.  

‘Based on our meeting with Jean-Claude Juncker (the head of the European Commission, - 112 International) and EU commissioners, I’m glad to tell you that the next week, from April 3 through 7, the loan worth of 600 million Euros should reach the Ukraine-based accounts’, he said.

According to Poroshenko, on Monday, April 3, the directors’ board of the IMF will hold session, to discuss allocation of another loan for Ukraine, worth of EUR 1 million. ‘That would significantly boost this country’s gold and foreign currency reserves and its budget stability,’ the head of the state stressed.   

On March 16, the European Commission agreed that the 600 million Euros-worth tranche would be assigned to Ukraine. Considering this loan, the overall amount of the EU assistance to Ukraine makes 2.8 billion Euros (since spring 2014, when the EU began rendering macroeconomic aid to this country). Thus, now it is the largest volume of the macroeconomic assistance ever sent to the non-EU member country.

Currently, it’s the second phase of EU’s effective funding program, under which Ukraine is to receive 600 million Euros in the near future. That became possible thanks to the draft law on lifting the export ban on timber from Ukraine, which was approved by the Ukrainian Parliament.

Related: Ukraine, IMF almost complete talks on another loan, - Finance Minister

Related: Ukraine receives second loan from EU in 2016

Related: National Bank: Ukraine could get fourth IMF loan in early 2017

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