Timetable pushed back: European Commission postpones first €90 billion loan tranche for Ukraine
The European Commission has postponed the disbursement of the first tranche under the €90 billion loan programme for Ukraine.
European Commission spokesperson Paula Pinho said this in response to journalists' questions at a briefing, Censor.NET reports, citing RBC-Ukraine.
Timetable pushed back
Pinho assured that the EU is not abandoning the payment, but that the timetable has shifted.
"We remain committed to making the first disbursement under this package in the second half of this year, and if I may recall the President's words, she said that we will provide this loan one way or another," the European Commission spokesperson said.
Work completed
According to her, part of the preparatory work has already been completed:
- A loan to support Ukraine has been created;
- Amendments were made to the Ukraine Facility in February;
- A funding strategy has been adopted, defining the amounts, objectives and channels for transferring the funds.
What remains to be done?
Despite the progress, the EU still has to prepare three documents:
- A memorandum of understanding, which will serve as the basis for the macro-financial assistance channel;
- An updated Ukraine Plan, which will serve as the basis for the Ukraine Facility programme through which budget support will be provided;
- A loan agreement with Ukraine.
Pinho noted that work on all three documents is ongoing and that contacts with Ukrainian counterparts are being maintained on a constant basis.
