European Commission to not allocate third tranche of macro-financial support to Ukraine

Source : 112 Ukraine

The issue is about 600 million euros
16:20, 1 December 2017

The European Commission will not allocate the third tranche of the macro-financial support in the sum of 600 million euros to Ukraine as the press service of the European Commission reported.

It is noted that Ukraine got two tranches in the total sum of 1.2 billion euros from the provide 1.8 billions of the macro-financial support. The term of the current program will end in the beginning of January 2018.

Related: European Union to allocate € 1.8 billion of macro-financial assistance to Ukraine

The European Commission noted that Ukraine fulfilled the major part of the commitments agreed with the EU. The measures on the increase of the transparency of the state finances governance, launch of the court and administrative reforms, promotion of the current reforms in the energy sector, improve of the business climate and strengthening of the social security system are among them.

Related: U.S. approves defense budget with $350 mln of financial aid for Ukraine

'Against this background, the Commission is not in a position to disburse the last tranche of the current MFA program. We encourage Ukraine to maintain the reform momentum in the many areas that have progressed well, and complete the measures outstanding under the current programme, with the support of all stakeholders', the statement said.

Related: President signs law facilitating quality of financial reporting

As we reported President Petro Poroshenko met the Jean-Claude Juncker, the President of the European Commission at the 'East Partnership' summit when he expressed the interest in the further program of the macro-financial support from the EU.

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