Ukraine will receive the first tranche of macro-financial assistance from the EU in June
European Commissioner for Economy and Productivity, Implementation and Simplification Valdis Dombrovskis signed memorandum on mutual understanding regarding macro-financial assistance to Ukraine in the amount of 8.35 billion euros. The funds are to be provided within the framework of the EU’s €90 billion loan support.
“Having signed a memorandum of understanding on macro-financial assistance in the form of a loan to Ukraine, we are preparing to make the first payment in June. This support and the related reforms will strengthen the Ukrainian economy, contribute to the growth of state revenues, as well as the fight against corruption. Now the Ukrainian parliament must approve these reforms, which are essential for Ukraine’s integration into the EU,” Dombrovskis said.
The European Commission explained that the memorandum determines the approximate size of the tranches and the conditions for their provision. Among them are Ukraine’s adherence to democratic mechanisms, the rule of law, human rights and the continuation of the fight against corruption.
“In accordance with the Regulation on the loan in support of Ukraine, the policy conditions have a strong fiscal focus and are built around three main areas: revenue mobilization, public expenditure efficiency and public finance management systems,” the European Commission said in a statement.
For the first tranche, Ukraine must implement measures in the area of taxation of digital platform income, preparation of sectoral public investment strategies and updating of the Customs Code.
