27 August 2018, Monday, 20:34 90

Ukraine Agrees Terms Of EUR 1 Billion In Macro-Financial Assistance With EU, Will Sign Agreement Soon

Редактор: Daria Zubkova

Ukraine has reached agreement with the European Union on the conditions for provision of EUR 1 billion in macro-financial assistance, and it plans to sign the relevant agreement in the near future.

Ukraine's representative at the European Union Mykola Tochytskyi announced this at a news briefing during the annual meeting of Ukrainian ambassadors to foreign countries, the Ukrainian News Agency reports.

"There has been progress (in agreeing the terms for provision of macro-financial assistance) and the terms exist. Unfortunately, I cannot disclose them to you until an agreement is signed. It will be signed in the near future," he said.

As Ukrainian News Agency earlier reported, the European Union recently announced an agreement with the European Parliament on a new package of EUR 1 billion in macro-financial assistance for Ukraine to cover the country’s financing needs over a period of two and a half years and said that the macro-financial assistance would be conditional on progress in preventing corruption.

According to the announcement, the European Commission will be responsible for disbursing the macro-economic assistance. The Commission and the European External Action Service will monitor the fulfillment of the conditions. The European Commission will be able to suspend or cancel disbursements if Ukraine fails to comply.

Before that, the European Union’s Delegation to Ukraine announced that a new macro-financial assistance program for Ukraine was impossible before resumption lending to Ukraine by the International Monetary Fund.

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