The FINANCIAL — On July 22, The EU released a loan of €600 million to Ukraine – the first instalment under the new Macro-Financial Assistance (MFA) programme for Ukraine, which amounts to a total of €1.8 billion.
Through this programme, the EU contributes to cover the urgent financing needs faced by Ukraine, while supporting the country’s economic stabilisation. In addition, the EU’s MFA package will assist the Ukrainian authorities in implementing important reforms in the areas of public finance management, governance and transparency, the energy sector, social safety nets, the business environment and the financial sector, according to The EU Neighbourhood Info Centre.
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs said the €600 million disbursed today added to the €1.6 billion already provided by the EU since the beginning of the crisis in Ukraine. In addition, the EC envisages disbursing another €1.2 billion in the coming months subject to successful implementation of the economic and structural reforms agreed between the EU and Ukraine.
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