EC predicts first payment under EUR 90 bln loan for Ukraine in Q2

The European Commission predicts that the first payments to Ukraine under the EUR 90 billion loan could be made in the second quarter of this year.

European Commission spokesperson for budget issues Balázs Ujvári said this in Brussels on Tuesday.

"We know what is at stake. We know that time is of the essence, so we are doing everything possible to complete the negotiations as quickly as possible. Of course, I cannot give clear deadlines, but I would say that the goal is to complete all remaining work as quickly as possible so that we can prepare for the first payment during the second quarter," he explained.

According to the European Commission spokesperson, work continues on the technical documents accompanying the main agreements. "There are 3 documents on the technical side that we are exchanging and working on very intensively. One is the macro-financial assistance program, which will be backed by a Memorandum of Understanding... Work in this direction is progressing very well. On the other hand, we will also use the Ukraine Facility to pay part of what we call budget support for Ukraine, and in this regard, we need to update the Ukraine Plan. Work in this direction is also progressing very intensively. And the third element is indeed the loan agreement. This again requires a bilateral exchange between us and Ukraine, and this exchange is taking place," Ujvári detailed.

At the same time, he noted that there are no direct links between the European Commission's current work on these documents and the positive decision of the Council of the EU regarding the final adoption of the EUR 90 billion loan for Ukraine, which is expected on Wednesday.

"I do not see direct links: bilateral negotiations between the Commission and Ukraine can take place independently of other procedures. Of course, our internal procedures are also ongoing. So we are doing everything possible to meet all requirements," Ujvári emphasized.