Ukraine will receive the promised billion from the EU passed a crucial stage

Ukraine still receives billion tranche from the European Union

The decision to grant Ukraine macro-financial assistance was signed by the President of the European Parliament Antonio Tajani.

This was announced by Ukraine‘s Ambassador to the Kingdom of Belgium, the representative of Ukraine to the European Union and the European atomic energy community Michael Tochitskii.

“The decision of the European Parliament and of the Council on providing macro-financial assistance to Ukraine in the amount of 1 billion euros was signed today by the President Tajani and head of Austria on the eve of the 20th summit Ukraine-EU. Thank you for the support of all friends of Ukraine in the EU”, — wrote Tochitskii on Twitter.

It is worth noting that on Tuesday, June 26, the Council of the European Union has approved the allocation of Ukraine 1 billion euros of macro-financial assistance.

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“Today, the EU Council approved the 1 billion euros of new loans to meet financial needs of Ukraine and support the economic stabilization and structural reforms”, — said the press service of the Council of the EU in Twitter.

The next stage in the provision of tranche a Memorandum on the provision of assistance. It should prepare the European Commission, in consultation with the Council of the EU. The Memorandum also must be ratified by the Ukrainian Parliament.

Prior to this, on 13 June the European Parliament voted to give Ukraine 1 billion euros of macro-financial assistance. The money Ukraine will receive in the form of long-term and short-term loans. The allocation of each tranche must precede the implementation by Ukraine of certain conditions, in particular, respect to democratic mechanisms, the rule of law, respect for human rights and the implementation of economic and financial reforms.

We will remind, Ukrainians are still not given the opportunity to review the terms of lending from the EU, because there is a very contradictory requirement on the lifting of the moratorium on the export of roundwood. About this on his page on Facebook writes MP Eugene rybczynski.

“Last week we heard the decision of the EU Council on the allocation of 1 billion Euro macro-financial assistance to Ukraine. We all understand that this is not just aid, this loan is very beneficial for the lender terms. Let me remind you, and without this credit until 2020, Ukraine should return to lenders of about $ 20 billion of public debt. Add to this the 5 billion dollars the debt of state-owned companies and we get, as they say, a picture oil”, — says the MP.

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