Brussels, 08/07/2015 (Agence Europe) - On Wednesday 8 July, the European Commission adopted a decision allowing €600 million in loans to be paid to Kiev in the framework of the third macro-financial assistance plan granted by the European Union to Ukraine.
The third macro-financial assistance plan, worth a total of €1.8 billion over a period of two and a half years, was approved by the EU in early April (see EUROPE 11287). The memorandum of understanding on which it is based has been in force since early July. Amongst other things, it provides measures in Ukraine in return for the financial assistance, which will help to improve the management of public finances, reform the energy sector, reinforce social safety nets and give a shot in the arm to business.
In total, the EU has already disbursed more than €1.6 billion in the framework of two macro-financial assistance plans, which aim to support the countries of its neighbourhood, where the balance of payments is facing serious problems. (Mathieu Bion)