Ukraine will Receive 600 Million Euros of Macro-Financial Assistance from the EU in October
OREANDA-NEWS. The European Commission has agreed to allocate the second tranche of macro-financial assistance to Ukraine in the amount of 600 million euros. This was reported by the press service of the European Commission to the DW correspondent on Wednesday, September 15.
«This decision follows a positive assessment of the fulfillment of the conditions stipulated in the memorandum of understanding, as well as good progress in Ukraine's implementation of the current IMF program. It is expected that the allocation of funds will take place in October 2021», the European Commission said.
Recall that on September 14, the «availability period» of funds under the emergency program of macro-financial assistance of the European Union to Ukraine ended. It's total size was 1.2 billion euros. To get the second half of this amount, Kiev had to fulfill a number of specific conditions, among which judicial reform played a special role.
Recall that macro-financial assistance is loans that the EU allocates on favorable terms to neighboring countries to support their balance of payments in a difficult economic situation. The maximum loan repayment period is 15 years. The current emergency program of macro-financial assistance in the EU was approved to support neighboring countries in the conditions of a pandemic. The first tranche of 600 million euros was allocated to Ukraine in December 2020.