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Ukraine, EU sign memorandum on €1 billion macro-financial aid

It is expected that the first part of the tranche would come to Ukraine this autumn
14:14, 14 September 2018

112 Agency

Ukraine and the European Union have signed the memorandum on the provision of the macro-financial aid for one billion euros. The meeting was broadcasted on air of 112 Ukraine Tv channel.

“Today, we signed two important documents. The first document is a loan agreement between Ukraine and the European Union on the fourth micro-financial aid for one billion euros. The second one is the Memorandum of Understanding,” Ukraine’s President Petro Poroshenko noted during the signing ceremony.

In the frameworks of these agreements, the tranches on macro-financial aid would be equally divided for 500 million euros in each part. At the same time, it is expected that the first part of the tranche would come to Ukraine this autumn after the completion of inner procedures regarding the document coming into force and fulfilment of the requirements by Ukraine.

 

Related: EBRD envoy explains why Ukraine only receives four IMF tranches

The second tranche will be provided in spring 2019 upon the assessment of fulfilment of the requirements on reforming of certain spheres of state policy by Ukraine.

As it was reported earlier, Ukraine’s National Bank expects another tranche from the International Monetary Fund within EFF program till the end of autumn. In early summer Yakiv Smolii, NBU Head, predicted that Ukraine can receive the fifth tranche from the IMF till autumn.

Related: Now less loyal: IMF to abandon its "political" tranches to Kyiv

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