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Ukraine obtains another tranche of macro-financial assistance of European Union worth EUR260 million
13.11.2014 16:51 "Agro Perspectiva" (Kyiv) —
In the framework of financial cooperation between Ukraine and the European Union, Ukraine has received a loan worth EUR260 million (the second and third tranches of the macro-financial assistance rendered by the EU), Government Portal reports.
As to the report, the credit resource has been provided in the frames of the Memorandum of understanding between Ukraine as the borrower and the European Union as the lender and the Loan agreement between Ukraine as the borrower, the National Bank of Ukraine as an agent of the borrower and the European Union as a creditor to grant Ukraine the macro-financial assistance of the European Union worth under EUR610 million that had been concluded on April 16, 2013 and ratified by the Verkhovna Rada of Ukraine with the Law of Ukraine dated March 4, 2014.
Reportedly, the rate under the loan makes 1.375 %.
The maturity date is October 4, 2024.
As to the report, the next tranche worth US$250 million is expected in February 2015, pursuant to the results of implementation by Ukraine of the Stand-by cooperation program with the IMF, as well as contained in the Memorandum criteria in the following areas: public financial management; trade and taxation; energy, as well as the implementation of the financial sector policy.
It is to be admitted, receiving of the EU macro-financial assistance in the shape of loans is the next step to deepen cooperation between Ukraine and the European Union.
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