17:03 16.05.2018

EP's foreign affairs committee supports new Macro-Financial Assistance for Ukraine

1 min read
EP's foreign affairs committee supports new Macro-Financial Assistance for Ukraine

The European Parliament's Committee on Foreign Affairs has voted in favor of a new, fourth Macro-Financial Assistance (MFA) for Ukraine, Ukrainian Finance Minister Oleksandr Danyliuk has said.

The MFA should also be considered by European Parliament's Committee on International Trade, he said.

"I hope for tomorrow's support amid voting by the European Parliament's Committee on International Trade, where three weeks ago, [I] jointly with Commissioner of the European Commission Pierre Moscovici presented the importance of the next macro-financial assistance program for the Ukrainian economy and the continuation of the reform process," Danyliuk wrote on Facebook on May 16.

As reported, under the third MFA, Ukraine received two tranches from the EU to the tune of EUR 1.2 billion out of the earmarked EUR 1.8 billion. The EC refused to grant a third tranche, as the country's authorities had fulfilled only 17 of the 21 conditions.

In March 2018, the European Commission approved a fourth macro-financial assistance program for Ukraine worth EUR 1 billion, which is subject to approval by the European Parliament and the Council of the European Union.

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