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The EU is ready to provide macro-financial assistance to Ukraine, but Kiev will have to meet the requirements of the International Monetary Fund. This was stated by the head of European diplomacy, Josep Borrell.
Ukraine will receive the largest macro-financial assistance package in history aimed at overcoming the negative consequences of the coronavirus pandemic if it follows the recommendations in the field of rule of law. This was announced at a press conference in Kiev on September 22 by the High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell.
The press conference was broadcast on Facebook by the press service of the Ministry of Foreign Affairs of Ukraine.
We are ready to provide 1.2 billion euros of macro-financial assistance to help solve the problems associated with the economic recession caused by the coronavirus pandemic, but for this Ukraine needs to interact constructively with the IMF, as well as meet all related requirements. with the strengthening of the rule. rights in Ukraine, “Borrell said.
On July 23, the Prime Minister of Ukraine, Denis Shmygal, signed a memorandum and a loan agreement with the European Commission for the allocation of 1.2 billion euros for Ukraine. The Verkhovna Rada ratified the loan agreement between Ukraine and the European Union on August 25; President Volodymyr Zelenskiy signed a law ratifying the agreement on September 14.
A loan from the European Union is supposed to be used to support macroeconomic stability, balance of payments and the implementation of reforms in Ukraine in the context of the COVID-19 pandemic. It must be paid in two tranches of 600 million euros each.
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