The European Parliament will vote on the proposal of the European Commission to provide Ukraine EUR 1.2 billion to combat the economic consequences of the coronavirus COVID-19 pandemic on May 13 on a request for an urgent procedure. The corresponding item is recorded on the agenda of the session, which will be held from May 13 to May 16.
The issue of macro-financial assistance to enlargement and neighbourhood partners in the context of the COVID-19 pandemic crisis was recorded first in the section on voting on a request for an urgent procedure.
Due to the restrictive measures taken in connection with the COVID-19 pandemic, the majority of EP deputies will vote remotely without discussion. The vote result is expected to be positive.
Ukraine is one of ten partner and neighboring countries that will receive a total of up to EUR 3 billion in aid. Moreover, Kyiv will be provided with the largest amount of funds. Thus, Albania will receive EUR 180 million, Bosnia and Herzegovina – EUR 250 million, Georgia – EUR 150 million, Jordan – EUR 200 million, Kosovo – EUR 100 million, Moldova – EUR 100 million, Montenegro – EUR 60 million, Northern Macedonia – EUR 160 million and Tunisia – EUR 600 million.
Earlier, on May 5, this proposal of the European Commission, which was adopted on April 22, was supported by the ambassadors of the member states of the European Union, thus giving a green light for the further procedure – voting in the European Parliament with subsequent final decision within the framework of the EU Council.
These funds will be provided within 12 months in the form of loans on “highly concessional terms to help these countries cover their urgent financing needs.”
The funds will be available for twelve months and will be paid in two installments. The maximum average loan maturity is 15 years.
Explaining the details of the allocation of money, Ukraine’s representative to the EU Mykola Tochytsky has said that the macro-financial assistance (MFA) of the European Commission to Ukraine in the amount of EUR 1.2 billion will be provided in two tranches: first EUR 600 million will be provided at once after the approval of the decision by the European Parliament and the Council of the European Union unconditionally, and the second tranche of EUR 600 million will be provided under conditions, the negotiations on which will take place soon.
