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Poroshenko confirms ratification on agreement with EU on allocation of one billion euro

Ukraine must fulfill a number of terms to get each of two tranches
19:26, 16 November 2018

Ukraine's Presidental Administration

President of Ukraine Petro Poroshenko has signed a law which ratifies the Memorandum of understanding between Ukraine and European Union and Credit Agreement between Ukraine, the National Bank and EU on the receiving of the macro-financial aid in the sum of one billion euro as the press service of the president reported.

The fulfillment of the Memorandum will allow Ukraine to get the financial aid from the European Union in the sum of one billion euro with the further pass of money to the state budget.

Related: EU, Ukraine to sign deal on macro-financial assistance

“The precondition for the getting of each of two tranches of the EU macro-financial aid in the sum of 500 million euro is the fulfillment of the number of the events agreed by the parties toward the implementation of the fiscal and customs policy, fight against corruption, fulfillment of the small-scale privatization, managing of the state enterprises, corporative management at the state banks and banking supervision, further reform in the spheres of energy, healthcare and social protection,” the representatives of the president emphasize.

The Verkhovna Rada of Ukraine has adopted the draft law #0203, which ratifies the Memorandum on mutual understanding between Ukraine and the European Union, and the Credit Agreement between Ukraine, the National Bank and the EU on the receiving of the macro-financial aid in the sum of one billion Euros on November 8.

Related: EP President signs resolution to provide macro-financial assistance to 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, the NBU Head predicted that Ukraine can receive the fifth tranche from the IMF till autumn.

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