Rada ratified the agreement with the European Union on 1 billion euros in credit

Рада ратифицировала соглашение с Евросоюзом о получении 1 млрд евро в кредит

The Verkhovna Rada adopted the bill No. 0203, which ratified the Memorandum of understanding between Ukraine and the European Union and a Loan agreement between Ukraine, national Bank and the EU on obtaining macro-financial assistance in the amount of 1 billion euros. Voted 242 deputies.

Online broadcast led official channel “Rada”.

The Memorandum was signed on 14 September 2018 in Kiev.

The bill is necessary in order for Ukraine entered into force the international Treaty on obtaining a loan in the amount of 1 billion euros.

According to the agreement, macro-financial assistance will provide two tranches of 500 million euros each.

Earlier it was reported that the receipt of the first tranche is expected in autumn this year after the completion of the internal procedures necessary for the entry into force of the signed documents and the fulfillment of the terms of the first tranche. The second tranche should arrive in the spring of 2019, the evaluation of the implementation by Ukraine of measures to reform the relevant sectors in the implementation of public policy.

We remind that earlier the Council of the European Union has approved the allocation of Ukraine 1 billion euros of macro-financial assistance.

Note that under the old program macro-financial assistance, Ukraine has received two tranches of 1.2 billion euros instead of the originally planned EUR 1.8 billion.

The third tranche was cancelled due to the fact that Ukraine has fulfilled 17 conditions for granting aid from the agreed 21. Outstanding were the four demands – the lifting of the ban on the export of roundwood, starting automatic verification of the electronic Declaration, the law on credit register, the NBU, and verifying information on beneficial owners of companies.

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