Economy 2021-05-17T04:02:26+03:00
Ukrainian news
Finance Ministry Hopes To Receive EUR 600 Million From EU By September

Finance Ministry Hopes To Receive EUR 600 Million From EU By September

EU, European Union, loan, Finance Ministry, Serhii Marchenko

The Finance Ministry hopes to receive EUR 600 million from the European Union by September.

Finance Minister Serhii Marchenko announced this during a meeting with the head of the European Commission's support group for Ukraine Katarína Mathernova, Ukrainian News Agency reports.

"We are grateful to the European Commission for the support and assistance in December 2020 - receiving the first tranche in the amount of EUR 600 million. Now the government of Ukraine and the Ministry of Finance are doing everything possible to fulfill the conditions of our program and receive the second tranche from the EU by September 2021," Marchenko said.

Ukraine must fulfill a number of obligations to receive the second tranche through reforms in such areas as: public financial management; good governance and the rule of law; improving the business climate; sectoral reforms and state-owned enterprises.

As Ukrainian News Agency earlier reported, in December 2020, Ukraine received the first tranche from the European Commission within the framework of the new EU macro-financial (credit) assistance program with a nominal amount of EUR 600 million in the form of a long-term loan at an interest rate of 0.125% maturing in June 2035.

Memorandum of Understanding and a Credit Agreement with the EU (on the receipt by Ukraine of EU macro-financial assistance worth up to EUR 1.2 billion), concluded on July 23, 2020 in Brussels.

According to the ministry, all these funds, in accordance with the terms of the relevant memorandums with the European Union, were used to reduce the external financial burden on Ukraine, improve its balance of payments and meet budgetary needs.

Больше новостей о: EU European Union loan Finance Ministry Serhii Marchenko