On Monday 25 October, the European Commission disbursed €600 million to Ukraine, which is the second tranche of the €1.2 billion macrofinancial assistance intended to combat the impact of the Covid-19 pandemic (see EUROPE 12619/11, 12534/26).
The disbursement comes two weeks after the EU/Ukraine summit and after a positive assessment has been made by the European Commission regarding the progress made by the Ukrainian authorities in implementing the agreed policy measures and reforms that are a condition for EU financial assistance.
“Ukraine has implemented all eight policy commitments relating to public finance management, governance and Rule of law, improving the business climate, and sectoral reforms and state-owned enterprises”, said the EU institution in a statement.
The Commission’s Executive Vice-President, Valdis Dombrovskis, welcomed the “significant” efforts made in meeting the commitments made. “By providing financial and technical support, the EU is helping to improve living standards for the Ukrainian people; by providing strong political support, we are strengthening Ukraine's integration with the European Union”, he added.
With this disbursement, the EU has completed seven of the ten macrofinancial assistance programmes that were initiated in spring 2020 to help enlargement and neighbouring countries cope with the pandemic (see EUROPE 12472/7).
In total, the EU has so far provided €4.4 billion in loans to Kiev under several macrofinancial assistance packages.
More information on the latest macrofinancial assistance provided to Ukraine is here: https://bit.ly/3m9YrAQ (Original version in French by Mathieu Bion)