The Verkhovna Rada has registered a draft law on the ratification of the memorandum of understanding and the credit agreement between Ukraine and the EU regarding macro-financial assistance in the amount of up to EUR 1 billion.

The bill on ratification of the memorandum between Ukraine as a borrower and the EU as a lender and the loan agreement between Ukraine as a borrower, the National Bank as a financial agent, and the EU as a lender (regarding Ukraine's receiving EU macro-financial assistance in the amount of EUR 1 billion) was initiated by Ukrainian President Petro Poroshenko.

As reported, in September representatives of Ukraine and the European Union signed a memorandum of understanding and a loan agreement on the issue of the fourth EU macro-financial assistance program to Ukraine (MFA IV) for EUR 1 billion.

The memorandum of understanding sets forth the terms of the fourth EU macro-financial assistance program for Ukraine for EUR 1 billion.

Deputy Prime Minister for European and Euro-Atlantic Integration Ivanna Klympush-Tsintsadze, in turn, said to receive macro-financial assistance from the EU, Ukraine would have to comply with the conditions from the third program and carry out a "small" privatization.

According to her, the amount of EUR 1 billion will be divided into two tranches, the first of which Kyiv expects to receive by the end of this year.