10 June 2020, Wednesday, 17:49 124

Ukraine Receives EUR 500 Million In Macro-Financial Assistance From EU

Редактор: Daria Zubkova

Ukraine has received EUR 500 million as the second tranche of the European Union’s fourth macro-financial assistance program.

The Ministry of Finance announced this in a statement, the Ukrainian News Agency reports.

The money will be provided in the form of a loan at the interest rate of 0.125% per annum with a maturity date of 10.06.2035.

The funds will be used to finance state budget expenditures, help reduce the external financial pressure on Ukraine, and improve the country’s balance of payments.

Given the need for proper financing of measures to overcome the negative economic consequences of the spread of COVID-19 acute respiratory disease caused by the SARS-CoV-2 coronavirus, obtaining these funds will help maintain financial stability in Ukraine.

The provision of this preferential credit became possible after Ukraine fulfilled all the 12 special conditions regarding implementation of reforms in various areas at the end of 2019.

As Ukrainian News Agency earlier reported, Ukraine received EUR 500 million as the first tranche of the European Union’s fourth macro-financial assistance program in December 2018.

Ukraine has received a total of EUR 3.8 billion in preferential credits from the European Union under four macro-financial assistance programs from during 2014 to 2020.

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