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Ukraine and the European Union pledge readiness to strengthen cooperation within the framework of a joint reform program, launched in 2015, in order to obtain the third tranche of the EU macro-financial assistance worth EUR 600 million by the end of the year, the Cabinet press service reported following a meeting between Prime Minister of Ukraine Volodymyr Groysman and Vice President of the European Commission, European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis held as part of the Ukraine-EU summit in Kyiv.
“Now we need to intensify the implementation of the EU-Ukraine Association Agreement. We also understand the conditions for granting the macro-financial assistance, hence we engage in a constant dialogue with the Parliament on these issues in order to find a solution,” the prime minister said.
In turn, the vice president of the European Commission outlined that the EU will continue to provide the overwhelming support for Ukraine and added that the progress in relations between the EU and Ukraine is obvious.
“Today we really need to spare no efforts to meet the conditions for receiving the third tranche of the macro-financial assistance,” said Valdis Dombrovskis, noting that the requirements for obtaining the funds are related to the fight against corruption, extension of energy efficiency programs, deepening of cooperation on the issues of internally displaced persons, and specific economic matters.
“We don't have so much time - it's of paramount importance to complete this process by mid-November because there are internal EU procedures so that it would be possible to disburse the tranche in December,” Valdis Dombrovskis said.
Read also"Marshall Plan" for Ukraine: Lithuania calls on international donors for supportAs UNIAN reported earlier, in April 2014, the EU, which is one of Ukraine’s key creditors, stated its readiness to provide financial assistance to Kyiv amounting to a total of EUR 11 billion: EUR 1.6 bln in loans, EUR 1.4 bln in grants, EUR 5 bln from the EBRD, and another EUR 3 bln from EIB.
In the framework of the credit program, Ukraine has so far only received EUR 600 million.
Read alsoUkraine receives second EUR 600 mln disbursement from EUIn 2015, the EU offered a new assistance package worth EUR 1.8 billion in loans. Ukraine received the second tranche of macro-financial assistance from the EU amounting to EUR 600 million early April 2017. Thus, EU’s financial assistance already disbursed to Ukraine totals EUR 1.2 billion.