REUTERS
Participants in the summit noted the importance of maintaining the independence of Ukraine's National Bank.
The European Union is ready to give Ukraine the second tranche worth EUR 500 million of the fourth Macro-Financial Assistance (MFA) program after the country meets the relevant conditions.
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"The EU stands ready to disburse the 2nd tranche (EUR 500 million) of the fourth macro-financial assistance program as soon as relevant conditions are implemented," reads a joint statement by President of the European Council Donald Tusk, European Commission President Jean-Claude Juncker, and Ukrainian President Volodymyr Zelensky following the 21st EU-Ukraine Summit held in Kyiv on July 8, 2019.
Ukraine and the EU also stressed the importance of Ukraine maintaining macro-economic stability, keeping the International Monetary Fund program on track and implementing all actions within the EU MFA program.
Participants in the summit also noted the importance of maintaining the independence of Ukraine's National Bank and the stability of the country's financial sector.
As UNIAN reported earlier, the European Council in June 2018 approved the fourth MFA package to Ukraine in the amount of EUR 1 billion.
In December 2018, the European Commission provided Ukraine with the first tranche of the fourth MFA package: EUR 500 million at par was lent at an interest rate of 1.25% per annum until April 2033.
Ukraine's Finance Minister Oksana Markarova, at a meeting with Vice-President of the European Commission Valdis Dombrovskis in April 2019, said that Ukraine was fulfilling the conditions to receive the second MFA tranche from the European Union worth EUR 500 million.