Zelensky signs draft law on ratification of memorandum with EU to get 1.2 billion Euros loan

Source : 112 Ukraine

The funds will be paid in tow transactions, 600 million Euros each
16:28, 14 September 2020

President's press service

President of Ukraine Volodymyr Zelensky has signed the draft bill on ratification of the memorandum and the agreement with the EU, which would let the Cabinet get the credit in the amount of 1.2 billion Euros each. Press service of the Presidential Office reported that on Monday.

The memorandum and the agreement's implementation will let Ukraine use the extra loan resource of the EU, which will be directed to support macroeconomic stability, payment balance and implementation of reforms in Ukraine.

Related: Interest rate on loans for business to be reduced to 7%, - PM

"The memorandum stipulates general conditions to allocate funds, and defines the measures within structural reforms that are necessary to get the second tranche of this assistance. The foreseen measures concern the medical procurement, tax and custom reforms, functioning of court system, state management, corporative management for state enterprises and gas market functioning", reads the message.

Ukraine and the EU signed the agreement in Brussels on July 23. 

Related: Program of affordable loans to be expanded to include farmers, - Zelensky

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