Connect with us

coronavirus

EU approves disbursement of €500 million in macro-financial assistance to #Ukraine

SHARE:

Published

6 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

The European Commission, on behalf of the EU, has approved the disbursement of a €500 million loan to Ukraine as part of its fourth macro-financial assistance (MFA) programme. With this disbursement, the EU has now provided Ukraine with €3.8 billion in MFA loans since 2014. This is the largest amount of MFA the EUhas disbursed to any single partner country.

The disbursement of the second and last tranche of the MFA operation has become possible after Ukraine has implemented twelve policy actions agreed with the EU. They included important measures in the fields of fight against corruption and money laundering, public finance management, banking sector, energy, healthcare and social policies. Ukraine is also finalizing a new Stand-by Agreement with the International Monetary Fund (IMF) and has implemented the associated prior actions.MFA funds are made available in the form of low-interest, long-term loans.

The first instalment of €500m under the current programme was released in December 2018, after the Ukrainian authorities fulfilled the associated policy conditions. The EU is also making further MFA loans of €1.2bn available to Ukraine, as part of the Decision to provide MFA to ten partner countries to help them limit the economic fallout from the coronavirus pandemic. A full press release is available here.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending