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Ukraine expects EU confirmation on € 1 billion macro-financial aid

Ukraine and EU signed a memorandum on the provision of the tranche in the sum of € 1 billion in September
13:32, 8 November 2018

Presidential Administration press office

Ukraine will quickly implement all commitments within the agreement with the EU on the fourth program of the macro-financial aid to Ukraine in the sum of € 1 billion. The confirmation of the European Commission is expected, the presidential press service reports.

Petro Poroshenko, the President of Ukraine negotiated with Valdis Dombrovskis, the European Commissioner for Economic and Monetary Affairs and the Euro, Financial Stability, Financial Services and Capital Markets Union. Thhe sides discussed the fulfillment of the conditions of the macro-financial aid to Ukraine during the meeting in Helsinki.

Related: Ukraine, EU agree terms of allocation of 1 billion euro of micro-financial aid

'During a meeting, it was noted that Ukraine will implement the undertaken commitments within the mentioned agreements as soon as possible. It also finished the implementation of all six conditions for the receiving of the first aid tranche (€ 500 million) and the positive estimation of the European Commission is expected,' the message said.

On September 14, Ukraine and the European Union have signed the memorandum on the provision of the macro-financial aid for € 1 billion.

Related: IMF visit is evidence of improvement of prospects of financial aid allocation, - NBU

In the frameworks of these agreements, the tranches on macro-financial aid would be equally divided fin two parts, 500 million Euros each. 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 fulfillment of the requirements by Ukraine.

The second tranche will be provided in spring 2019 when the EU assesses the fulfillment of the requirements on reforms in certain spheres of the state policy by Ukraine.

Related: UK to allocate $42.6 million to Ukraine for humanitarian aid, increase of defense capacity

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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