EU and Ukraine agree on €8.35bn macro-financial assistance under €90bn loan

Ukraine and the European Union have initialled a Memorandum of Understanding on €8.35 billion in macro-financial assistance under the EU's €90 billion loan programme.

Source: European Pravda, citing the office of EU Economy Commissioner Valdis Dombrovskis

Details: On 20 May, Dombrovskis signed the memorandum on behalf of the EU.

The document must now be ratified by the Ukrainian parliament.

The agreement will enable Ukraine to receive €8.35 billion in 2026 to support its state budget.

A further €8.35 billion is expected to be provided through the Ukraine Facility mechanism. Negotiations with the Ukrainian side on its regulatory framework are still ongoing and are expected to be completed in the near future.

Background:

• Earlier, European Pravda learned that Ukraine will need to implement a number of reforms related to the rule of law and anti-corruption efforts in order to receive part of the budgetary support from the EU's €90 billion loan programme.
• Sources told European Pravda that these requirements will be based on elements of a plan outlined by EU Enlargement Commissioner Marta Kos and Taras Kachka, Ukraine's Deputy Prime Minister for European and Euro-Atlantic Integration. These concern reforms in the rule of law and anti-corruption areas where Ukraine is currently not demonstrating sufficient progress.

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