In Kiev on Friday 14 September, the European Commission signed a memorandum of understanding with Ukraine for a fourth macro-financial assistance programme, this time worth €1 billion, in the form of medium- and long-term loans.
With this conditional aid, the European Union aims to support economic stabilisation in the country, by promoting structural reforms (management of public finances, governance of companies and public banks, social policies).
In a press release, the Commissioner for the Euro, Valdis Dombrovskis, laid clear emphasis on the importance of taking action to stamp out corruption.
Since the annexation of Crimea by Russia in 2014 and the outbreak of war in the east of the country, the EU has supported Ukraine to the tune of €2.8 billion under three macro-financial aid plans. The last tranche of €600 million of the final aid plan was not paid out due to concerns over the authorities' determination to take effective action against corruption.
The funds under the new programme will be paid out in two instalments of up to €500 million each. The payments will also depend on Ukraine's progress in its programme with the International Monetary Fund (IMF). (Original version in French by Mathieu Bion)