REUTERS
Ukraine will receive the second tranche of macro-financial assistance from the European Union within the next few weeks, Head of the EU Delegation to Ukraine Hugues Mingarelli said at a business forum in Kyiv.
According to Mingarelli, Ukraine has fulfilled almost all the conditions for allocation of EUR 600 million of macro-financial assistance and funds will be allocated within the next few weeks.
As UNIAN reported earlier, the new Macro-Financial Assistance (MFA) for Ukraine amounts to a total of EUR 1.8 billion. The first tranche worth EUR 600 million was disbursed to Ukraine in July 2015.
Through this program, the EU contributes to cover the urgent financing needs faced by Ukraine, while supporting the country's economic stabilization. In addition, the EU's MFA package will assist the Ukrainian authorities in implementing important reforms in the areas of public finance management, governance, transparency, the energy sector, social safety nets, business environment, and financial sector.
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MFA operations are part of the EU's wider engagement with neighboring countries and are designed as an exceptional EU crisis response instrument available to EU neighboring countries experiencing severe balance of payments problems.