REUTERS
The establishment of a central loan register in Ukraine aimed at improving the assessment of credit risks by banks and reduces the share of bad loans is one of the conditions for the obtaining by Ukraine of EUR 1.8 billion in macro-financial assistance from the European Union, according to a report published on the Web site of the National Bank of Ukraine (NBU).
The report was issued in the wake of a meeting between NBU Governor Valeria Gontareva and Vice-President of the European Commission Valdis Dombrovskis on April 28.
The NBU noted that earlier the European Union decided to provide Ukraine with a macro-financial assistance package totalling EUR 3.41 billion, two tranches of which have already been received, while on April 15 the European Parliament and the EU Council made a decision on a third tranche of EUR 1.8 billion, one third of which is to be received in 2015.
The funds allocated to Ukraine are aimed at the stabilisation of its economy, the promotion of reforms, and improving the county’s balance of payments, as stipulated by the International Monetary Fund.
The funds will be available for two-and-a-half years and will be provided in the form of loans that will be repaid in three stages.
Referring to the statement of the European diplomat, the NBU said that the European community is ready to provide full support to Ukraine on its path of economic recovery and reform processes in the areas of public finance, combatting corruption, trade and taxation, energy and the financial sector.