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Photo: Vladimir Zelensky (Vitaly Nosach / RBC-Ukraine)
President Volodymyr Zelenskyy signed the necessary bill for Ukraine to receive a loan of 1.2 billion euros from the European Union. After that, the Memorandum of Understanding between Ukraine as a borrower and the EU as a lender enters into force.
This was reported by the press service of the Presidency.
The loan will be used to support macroeconomic stability, balance of payments and the implementation of reforms in Ukraine. The funds will be paid in two tranches of 600 million euros each.
“The Memorandum defines the general prerequisites for the allocation of funds, and also defines the measures in the framework of the implementation of the structural reforms necessary to receive the second tranche of this assistance … The measures refer to medical contracting, reforms tax and customs, the operation of the judicial system, public administration, corporate governance for the state companies, operation of the gas market “, – indicated in the message.
Ukraine and the EU signed an appropriate agreement and memorandum on July 23 in Brussels. The signing of the documents was preceded by the EU decision to provide “exclusive” macro-financial assistance to the countries of the European Neighborhood and Enlargement Policy in the context of the COVID-19 crisis in the amount of € 3 billion. Of these, Ukraine received the largest aid package at 1.2 billion euros.
We recall, the Verkhovna Rada adopted this bill on August 25, 248 people’s deputies voted in favor.
As RBC-Ukraine wrote, in late April, the European Commission announced the decision to provide Ukraine € 1.2bn of support during the COVID-19 pandemic.
