Economy

Ukraine submits application to receive new macrofinancial assistance from EU

Ukraine has submitted an application to receive new macrofinancial assistance from the European Union (EU) to the European Commission, Head of the European Union Delegation to Ukraine Hugues Mingarelli has said.

He said at a press release at Oschadbank in Kyiv on Wednesday that the European Commission would assess the country's need in external financial and then it would be decided if the macrofinancial assistance is provided.

Mingarelli said that the issue will be discussed in the next several months.

If the positive decision is made, the European Commission would submit the relevant proposal to the European Parliament and the Council of Europe, he said.

Mingarelli also recalled that in the past three years the EU provided EUR 3.4 billion of the macrofinancial assistance to Ukraine. By the end of this year a decision to issue the last tranche of EUR 600 million under the current macrofinancial assistance program for Ukraine was to be made. However, the funds would not be provided, as Ukraine met only 17 out of 21 requirements of the program.

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