Ukrainian President Petro Poroshenko has authorized Ukrainian Finance Minister Oleksandr Danyliuk to sign a letter on lifting restrictions for implementing the Emergency Credit Program to Restore Ukraine of the European Investment Bank (EIB).

Poroshenko signed decree No. 265/2016-rp on November 4, 2016.

"To authorize Ukrainian Finance Minister Oleksandr Danyliuk to sign the letter lifting restrictions for implementing the Emergency Credit Program to Restore Ukraine jointly with the EIB," the president said in the decree.

As reported, in the middle of May 2015 Poroshenko signed a bill on ratification of the financial agreement between Ukraine and EIB signed on April 22, 2015.

According to the agreement, EIB will provide EUR 200 million to Ukraine to take measures to overcome aftermath of events in eastern Ukraine: the funds are provided in tranches of EUR 15-40 million.

The program is intended to overcome the consequences of the military conflict in eastern Ukraine. The project covers five regions: territories of Donetsk and Luhansk regions under control of Ukraine, Kharkiv, Dnipropetrovsk and Zaporizhia regions.