EP's INTA Committee supports fourth macro-financial assistance program to Ukraine

The European Parliament's Committee on International Trade (INTA) has approved the proposal of the European Commission on the fourth macro-financial assistance program to Ukraine.

In particular, 28 MEPs supported the proposal, while five voted against it at a meeting on Thursday, May 17, DW reported.

Read alsoRepaying debts: Ukraine transfers US$451 mln to IMF since early May

On the eve, the European Parliament's Committee on Foreign Affairs, which is consultative on this issue, supported the proposal with amendments (58 MEPs votes in favor, while three voted against). However, the position of the EP's INTA Committee, which did not support the amendment, is decisive. This should accelerate the adoption of the program.

After the voting, the proposal is expected to be submitted to the European Parliament for approval at a plenary meeting in June, so that the program of assistance to Ukraine could be finally adopted in the summer. Then the first loan will be paid in the autumn of this year.

The new program envisages two tranches to Ukraine, EUR 500 million each. The European Commission notes that the goal of macro-financial assistance is to help Ukraine cover part of its additional external financial needs in 2018-2019, maintain the country's balance of payments, as well as provide incentives to intensify Ukraine's reform efforts.