EU's decision to grant Ukraine 1B euros in financial assistance comes into effect today
The decision of the European Union to provide Ukraine with macro-financial assistance loans worth 1 billion euros came into force on Monday, July 9.
As reported by Censor.NET citing Ukrinform, the Official Journal of the EU says that the aim of the assistance is to support macro-financial stability and the progress of reforms in Ukraine.
As the next step under the procedure, the Government of Ukraine and the European Commission will sign a memorandum of understanding on the terms of granting loans of macro-finance assistance. The reached agreements have yet to be ratified by the Verkhovna Rada of Ukraine.
The European Union noted that it was symbolic that the decision came into force on the day of the 20th Ukraine-EU Summit in Brussels.
On June 13, 2018, the European Parliament supported with an overwhelming majority the decision to provide the fourth macro-financial assistance program to Ukraine amounting to 1 billion euros.
