REUTERS
Ukraine will receive an additional EUR 250 million in macro-financial assistance in April within the framework of existing programs of the European Union, according to a European Commission report issued on the European Neighborhood Policy.
In 2014 Ukraine received a EUR 1.36 billion macro-finance loan, and Kyiv is expecting to receive an additional EUR 250 million in April 2015, subject to the government’s implementation of "the IMF program and political conditions," the report reads.
The report notes that in 2014 the EU’s funding for Kyiv under European Neighborhood Policy instruments amounted to EUR 365 million - the largest amount ever allocated to Ukraine.
"This is a response to the urgent need for the stabilization of the Ukrainian economy with the implementation of the State Building Contract to address short-term economic stabilization needs, and to prepare for in-depth reforms in the context of the Association Agreement/Deep Comprehensive Free Trade Area, through support for improved governance, the fight against corruption, judiciary reform and public administration reform," the report reads.
The European Commission has said that in the light of current developments, it would be difficult to determine in advance the focus of EU aid for several years.
"That is why currently EU assistance is provided in the form of annual concrete measures," the report reads.
According to the report, Ukraine has also received humanitarian aid amounting to EUR 139 million and EUR 2 million under programs for the development of civil society and the local authorities.
"These measures combined could bring overall support of at least EUR 11 billion over the coming years from the EU budget and EU based financial institutions," according to the European Commission.
In addition, the report also emphasizes that the European Parliament and the European Council are considering of providing Ukraine in 2015-2016 with an additional EUR 1.8 billion in financial assistance.