REUTERS
The European Union has allocated EUR 600 million to Ukraine in the first tranche of macro-financial assistance totaling EUR 1.8 billion, according to the EU Delegation in Ukraine.
"The European Commission, on behalf of the EU, today disbursed a loan of €600 million to Ukraine. This corresponds to the first instalment under the new Macro-Financial Assistance (MFA) programme for Ukraine, which amounts to a total of €1.8 billion," the report reads.
"Through this programme, the EU contributes to cover the urgent financing needs faced by Ukraine, while supporting the country's economic stabilisation. In addition, the EU's MFA package will assist the Ukrainian authorities in implementing important reforms in the areas of public finance management, governance and transparency, the energy sector, social safety nets, the business environment and the financial sector. By supporting the Ukrainian government's reform agenda in those areas, the EU intends to help Ukraine lay the ground for a durable return to economic growth," the EU Delegation in Ukraine wrote.
As UNIAN reported earlier, on May 22, the European Commission and the Ukrainian government signed a memorandum of understanding on the provision of macro-financial assistance to Ukraine worth EUR 1.8 billion.