The second and penultimate tranche of macro-financial aid of the EU of €600 million for Ukraine was released by the European Commission on Thursday 16 March.
The President of the Commission, Jean-Claude Juncker, announced the move in February: even though the law lifting the timber export ban has still not been adopted by the Ukrainian parliament, the second tranche of macro-financial aid will be made available (see EUROPE 11723). This is now effectively the case, as the Commission took the view that the political commitments have been “largely fulfilled”. It has, however, reminded the Ukrainian authorities that the law must be adopted “without delay”.
Including the €600 million, to be raised on the international capital markets and loaned to Ukraine “in late March or early April”, EU aid in the form of loans will have reached a level of €2.81 billion, which is the greatest amount of financial support awarded to a third country. Between now and 4 January 2018, a third and final tranche will be released, also for €600 million. (Original version in French by Jan Kordys)