Ukraine to receive financial aid from EU

Fri, 14.11.2014 15:07

KYIV/Ukraine in Arabic/ European Commission, on behalf of the EU, disbursed €260 million to Ukraine as part of the EU Macro-Financial Assistance (MFA) for the country.

This loan disbursement adds to the €600 million disbursed earlier this year under the two ongoing EU MFA programs. Following today’s disbursement, €750 million remain available under the two current programs for Ukraine.

The EU said the move is one part of the EU Macro-Financial Assistance (MFA) for Ukraine, hoping to help the country get out of its current difficult situation by encouraging structural reforms to improve governance, raise sustainable economic growth and legislative harmonization with the EU.

According to the report, the credit was taken at 1.375% per annum with a repayment date of October 4, 2024.

The total support for Ukraine in the framework of the EU macro-financial assistance program has amounted to EUR 1.61 billion. The financial support is a part of an assistance program to Ukraine that was announced by the European Commission on March 5, 2014.

In April of this year, Ukraine has approved and signed a program of cooperation with the key creditors of the country - the World Bank and the International Monetary Fund. The two-year program of lending to the economy of Ukraine by the IMF involves the allocation of $17 billion, $4.5 billion of which Ukraine has already received.

Ukraine has also received $2.5 billion from the World Bank. The total amount of its financial assistance for 2014 is $3.5 billion.


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