The European Commission has approved a € 500 million loan to Ukraine under the EU’s fourth macro-financial aid program.

Since 2014 the EU has provided Ukraine with € 3.8 billion. This is the biggest macro-financial support amount that any partner country received from the EU.

The current funding became possible after Ukraine fulfilled twelve commitments which had been agreed with the EU. They includeв the important measures in anti-corruption and money laundering areas, public finance management, the banking sector, energy, health and social policy.

The EU has also decided to provide Ukraine  with the additional macro-financial funding support of € 1.2 billion within a decision to support ten partner countries to limit the economic consequences of the coronavirus pandemic. This decision, proposed by the European Commission on April 22, was approved finally on May 20, 2020.

“Ukraine remains in a high position on the European agenda. We continue to provide political, financial and technical support, especially in this time of crisis, to support Ukraine’s reforms to build a more sustainable economy. Within the EU’s fourth macro-financial assistance program’s part, Ukraine has completed the necessary reforms, and we are about to provide € 500 million”, Valdis Dombrovskis, Vice-President of the European Commission for Economic Affairs, announced.

“The Ministry of Finance of Ukraine welcomes the decision of the European Commission. The support of partners is highly evaluated at this time. After all, it proves the progress of European integration reforms in Ukraine”, Yuriy Geletiy, Deputy Minister of Finance of Ukraine, responsible for European Integration, noted.

Natalia Tolub

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