On Monday, July 9, EU decision on allocating €1 bln of macro-financial assistance to Ukraine came into force, according to the Official Journal of the European Union.
It is assumed that EU will provide funds in the form of loans – by two tranches. The support program is designed for 2.5 years. The aim of assistance is the support of macro-financial stability and the progress of reforms in Ukraine.
The loan has the maximum average maturity – 15 years.
Now, according to the procedure, the government of Ukraine and the European Commission should sign the memorandum of understanding regarding the terms for providing the loans of macro-financial assistance. The Verkhovna Rada of Ukraine should ratify the reached agreements.
The European side lays down such terms as the continuation of political and economic reforms in Ukraine, confirmation of democracy, supremacy of law, including the creation of the High Anticorruption Court.
