The European Commission Has Disbursed €600 Million Euros to Ukraine

In October, Ukraine will receive 600 million euros of macro-financial assistance from the EU. The European Commission said that Kiev has met all the conditions of the European Union to receive this loan, allocated on favorable terms. The European Commission agreed on the allocation of a second tranche of macro-financial assistance to Ukraine in the amount of EUR 600 million. The press service of the European Commission informed DW about this on Wednesday, September 15. They clarified that this decision was made on September 13th. "This decision follows a positive assessment of the fulfillment of the conditions prescribed in the Memorandum of Understanding, as well as good progress in Ukraine's implementation of the current IMF program. It is expected that the allocation of funds will take place in October 2021," the European Commission said. We remind that on September 14 the "availability period" of funds for the emergency program of macro-financial assistance of the European Union to Ukraine ended. Its total size was 1.2 billion euros. In order to receive the second half of this amount, Kiev had to fulfill a number of specific conditions, among which the judicial reform was of particular importance. Recall that macro-financial assistance is loans that the EU provides on favorable terms to neighboring countries to support their balance of payments in a difficult economic situation. The maximum maturity of loans is 15 years. The current emergency macro-financial assistance program in the EU was approved to support neighboring countries in a pandemic. The first tranche in the amount of 600 million euros was allocated to Ukraine in December 2020.