The European Commission (EC) has approved a new program of macro-financial assistance to Ukraine, Ukrainian Finance Minister Oleksandr Danyliuk has said.
“I welcome the decision by the European Commission to approve a new program of macro-financial assistance to Ukraine. This is an important step for supporting reform in the country and ensuring financial stability,” he wrote on his Facebook page on Wednesday, February 28.
A source familiar with Ukraine’s negotiations with the EU told the Interfax-Ukraine news agency that the volume of the new program was EUR 1 billion.
As reported, Ukrainian President Petro Poroshenko said in November 2017 that agreement had been reached on a new program of macro-financial assistance from the EU to Ukraine for 2018-2019.
Earlier, the Finance Ministry estimated the volume of the new program at EUR 1.8 billion. This corresponds to the volume of macro-financial assistance of the EU approved in 2015, which expired in January 2018.
As part of the old program, Ukraine received two tranches for a total of EUR 1.2 billion out of the planned EUR 1.8 billion. The EC refused to grant a third tranche, as the country’s authorities fulfilled only 17 of 21 preliminary conditions.
