Ukraine has signed a Credit Agreement and a Memorandum on transitional financing for Ukraine within the framework of the Ukraine Facility.
This follows from a statement by the Ministry of Finance, the Ukrainian News agency reports.
The total volume of the provided preferential funds is EUR 6 billion.
Minister of Finance Serhii Marchenko, First Deputy Prime Minister / Minister of Economy Yuliya Svyrydenko, and Chairman of the National Bank Andrii Pyshnyi acted as signatories from Ukraine.
It is expected that the first payment in the amount of EUR 4.5 billion will reach the State Budget of Ukraine already in March.
Ukraine will be able to receive the rest of this sum – EUR 1.5 billion – in April 2024 after the European Commission evaluates the completed indicators. As part of the transitional financing mechanism, Ukraine implements five indicators in the areas of public finance management, fighting corruption, development of the business environment, etc.
After the approval of the Plan of Ukraine for the Ukraine Facility, it is expected that EUR 1.9 billion of unconditional financing will be directed to the state budget.
Ukraine will receive the rest of the budget support on a quarterly basis after fulfilling the indicators provided for in the Plan of Ukraine.
As the Ukrainian News agency earlier reported, EUR 50 billion within the Ukraine Facility will be allocated to budget support (EUR 38.27 billion), investment fund (EUR 6.97 billion), and technical and administrative support (EUR 4.76 billion).
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.