The European Commission on Wednesday provided EUR 600 million to Ukraine under the new macro-financial assistance program, the EU Delegation to Ukraine has reported.
"The European Commission, on behalf of the EU, today disbursed a loan of EUR 600 million to Ukraine. This corresponds to the first installment under the new Macro-Financial Assistance (MFA) program for Ukraine, which amounts to a total of EUR 1.8 billion," reads the report.
Through this program, the EU contributes to cover the urgent financing needs faced by Ukraine, while supporting the country's economic stabilization. In addition, the EU's MFA package will assist the Ukrainian authorities in implementing important reforms.
"The EUR 600 million in macro-financial assistance disbursed today adds to the EUR 1.6 billion already provided by the EU since the beginning of the crisis in Ukraine," European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici said.
"In addition, the Commission envisages disbursing another EUR 1.2 billion in the coming months subject to successful implementation of the economic and structural reforms agreed between the EU and Ukraine," he said.
The Memorandum of Understanding (MoU) and Loan Facility Agreement (LFA) attached to the third EU macro-financial assistance program were signed by Ukraine and the EU on 22 May 2015 in Riga.
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