The billion dollar program of aid from the EU there are 18 conditions — President

A new programme of macro-financial assistance of the European Union to Ukraine in the amount of one billion euros includes 18 conditions, six of which must be performed for the first tranche and 12 for the second.

В программе миллиардной помощи от ЕС есть 18 условий — Президент

This was stated by the President Petro Poroshenko after the ceremony of signing of the Loan agreement and the Memorandum of understanding, reports UKRINFORM.

“Indeed, (the ed) is associated with 18 reforms, with 18 terms, of which six are necessary for the fulfillment of the first tranche and most of them have been fulfilled. I hope that in the near future the first tranche will be received. The second tranche is linked with 12 conditions,” he said.

In turn, Vice-President of the European Commission Valdis Dombrovskis noted that macrofinancial assistance of the EU aimed at solution of the vulnerable economic issues, as well as the support of economic stabilization and growth in Ukraine.

According to him, this program will strengthen the confidence of foreign investors.

At the same time, Dombrovskis noted that the allocation of EU funds also depends on the proper parallel implementation of the IMF program.

Petro Poroshenko also said that he expects that the Verkhovna Rada will soon ratify the Loan agreement and the Memorandum of understanding on the allocation of Ukraine of macro-financial assistance of the European Union in the amount of 1 billion euros. And reminded that the current program of the EU macro-financial assistance to Ukraine is the fourth, starting in 2014.

As reported by UKRINFORM, Ukraine and the EU on Friday signed a Memorandum of understanding and Loan agreement of the EU with the national Bank regarding programmes EU macro-financial assistance worth 1 billion euros.

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The Memorandum of understanding defines the list of actions for implementation of structural reforms in public Finance management. It is also about good governance and combating corruption, sector reforms, social policies and management in public companies.

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