EU allocated EUR 1.8 billion to Ukraine

In the framework of the Eastern Partnership Summit, Ukraine and the EU have signed the Memorandum of Understanding and Loan Agreement of the third Macro-Financial Assistance program worth EUR 1.8 billion to help stabilize the situation in the country.

"The European Union’s support of Ukraine has always been and remains of an utmost importance. There is no doubt that the funds obtained within the framework of this Program, which is part of a broader package of financial assistance provided to Ukraine by the international financial institutions and bilateral donors, will contribute to stabilizing Ukraine's external position, balancing the budget and implementing economic reforms. At the same time, it is a strong signal of confidence in Ukraine as an institutional borrower, and a candidate for further integration with the EU"– said the Governor of the National Bank of Ukraine, Valeria Gontareva.

We recall that the EU has formerly approved three Macro-Financial Assistance programs, worth total of EUR 3.41 billion. The financing of the first and the second one were already received by Ukraine.

The funds under the third package of the Macro-Financial Assistance will be received in three tranches (two tranches worth EUR 600 million each will be financed in 2015 and one tranche worth EUR 600 million in 2016). The amounts and conditions attached to the provision of financial assistance are set out in the Memorandum of Understanding.

Source: http://bank.gov.ua/control/en/publish/article?art_id=17632614&cat_id=76291