REUTERS
The sides signed two respective documents.
Ukraine and the European Union (EU) have signed a memorandum of understanding and a loan agreement between Ukraine and the EU on the fourth macro-financial assistance (MFA) program to Ukraine.
"Today we've signed two important documents: the Memorandum of Understanding and a Loan Agreement between Ukraine and the European Union on the Fourth Program of Macro-Financial Assistance to Ukraine in the amount of EUR 1 billion," Ukrainian President Petro Poroshenko tweeted on Friday, September 14.
As UNIAN reported, the European Commission says it is committed to actively supporting Ukraine in the challenging times it is going through.
Read alsoPoroshenko: Ukraine expects first tranche of EU's MFA IV in autumn
Since the outbreak of the crisis in early 2014, the Commission has disbursed a total of EUR 2.8 billion in macro-financial assistance (MFA) through three consecutive programs of low-interest loans. This represents the highest amount ever made available by the EU to a third partner.
Out of the EUR 2.8 billion, EUR 1.6 billion was disbursed in 2014-2015 under the first two MFA operations (MFA I and MFA II), while EUR 1.2 billion was released in 2015-2017 under the third MFA program (MFA III).
In March 2018, the European Commission adopted a proposal to provide an additional EUR 1 billion of MFA (MFA IV) to Ukraine to cover the country's external financing needs and support accelerated reform implementation. This proposal was adopted by the European Parliament and the Council on July 4, 2018.
"All disbursements under the proposed programme, including the first, would be conditional on the implementation of reform measures designed to address vulnerabilities identified in the Ukrainian economy. Established in a Memorandum of Understanding, they would take into account measures that remain outstanding from the previous MFA programme and include steps to intensify the fight against corruption," the European Commission said in its March 9 announcement.