President Petro Poroshenko Ratifies EU Loan Agreement
The aid is planned to be disbursed in two instalments
Photo from Ukrinform
The President of Ukraine Petro Poroshenko signed the Law of Ukraine on ratification of the Memorandum and the Loan Agreement for Ukraine on receiving the macrofinancial aid from the European Union in the amount of up to € 1 billion today, on Nov. 16, stated Petro Poroshenko on Twitter.
The aid is planned to be disbursed in two instalments. The first one is expected in December, and the second tranche is expected in the first half of 2019. It will be provided as medium-term and long-term loans.
In May the European Parliament voted to provide macrofinancial aid “to cover the external financing gap in 2018-2019” in Ukraine, as stated on EU parliament website.
On Nov. 8, the Verkhovna Rada (Supreme council) of Ukraine ratified an agreement on € 1 billion of macro-financial aid from the EU.
President of Ukraine Petro Poroshenko announced the provision of the first tranche of the new package of macrofinancial help in “a few weeks.”