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The EU agreed on the allocation of financial assistance to Ukraine

Евросоюз согласовал выделение финансовой помощи УкраинеThese funds are used to support economic stabilization and structural reform programme.

Further financial assistance from the EU is due to the progress in the field of prevention of corruption and on how Ukraine will respect the democratic mechanisms and the rule of law.The Committee of permanent representatives of EU countries approved the agreement with the European Parliament on a new package of macro-financial assistance to Ukraine.

As stated in the press service of the European Union, published on Tuesday, may 29, the batch size will be 1 billion euros. According to experts, this amount will cover “the needs of Ukraine in financing for two and a half years.”

The report also notes that these funds are used to support economic stabilization and structural reform programme, complementing the financial resources provided by the International monetary Fund and other donors. While further financial assistance from the EU is due to the progress in the field of prevention of corruption and on how Ukraine will respect democratic mechanisms and the rule of law and guarantee the respect of human rights.

This is the third tranche of the European macro-financial assistance to Ukraine. In 2014, the EU has pledged to allocate to Kiev 1.6 billion euros and 1.8 billion euros in 2015, of which Ukraine has received 2.81 billion euros. Payment of 600 million euros was cancelled in January 2018 because of incomplete compliance with the set conditions, reminds the press service of EU.

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