The European Commission has decided to allocate another package of macro-financial assistance (MFA) worth up to €1 billion to Ukraine for the support of the country’s effort to implement structural reforms and stabilize its economy.
According to the European Commission’s website, this is going to be the fourth package of macro-financial assistance for Ukraine, which needs to be endorsed by the European Parliament and the European Union Council, Interfax-Ukraine reports.
“Today’s suggestion follows a request from the Ukrainian government and direct talks between the president of the European Commission Jean-Claude Juncker and the President of Ukraine Petro Poroshenko. The new program is aimed at maintaining the progress, which has been achieved in the area of economic stabilization and structural reforms during the previous three MFA operations”, - the European Commission’s message published on Friday reads.
The vice president of the European Commission Valdis Dombrovskis pointed out that the idea of the fourth package of macro-financial assistance is in line with the union’s obligations towards Ukraine.
He also noted that the European Parliament and the union’s member states are expected to support the program.
The European Commission emphasized that payments to Ukraine will depend on the progress of reforms in the nation.
“All payments under the suggested program, including the first one, will depend on the progress of reforms that are aimed at minimizing the vulnerabilities of the Ukrainian economy. Being included in the Memorandum on mutual understanding, they will take into account the measures that still remain outstanding from the previous MFA program, and it will include steps in facilitating Ukraine’s anti-corruption policy”, - the European Commission pointed out.
The idea of the fourth package of macro-financial assistance for Ukraine needs to be confirmed by the European Parliament and the European Council.