Ukraine may receive €1.9bn in macro-financing from EU in May

Valdis Dombrovskis, Vice President of the European Commission, has announced that the next tranche of macro-financial assistance for Ukraine after April may total €1.9 billion.

Source: Dombrovskis in a conversation with the media on the sidelines of a meeting of the Council of the European Union on economic and financial issues, as reported by European Pravda

Details: Dombrovskis noted that Ukraine had received the first tranche of the agreed €50bn macro-financial assistance programme, the Ukraine Facility, in March and is due to receive €1.5bn in April.

The official also recalled the reform plan already endorsed by Ukraine, the phased implementation of which will be a condition for receiving further tranches and will bring Ukraine closer to meeting EU standards as part of its European integration efforts.

"As for the next steps: the Commission is assessing the Ukraine Plan with a view to drawing up quarterly indicators of reforms and investments to be met to unlock future payments.

We will finalise this work very soon and transmit the assessment to the Council. Once approval is secured, this would pave the way for Ukraine to receive €1.9 billion in pre-financing, most likely in May," Dombrovskis pointed out.

Background: On 18 March, the Ukrainian government approved a reform plan for the Ukraine Facility, which is the basis for financial support from the European Union under a four-year programme totalling €50 billion.

On 20 March, the European Commission disbursed the first tranche of the €4.5 billion under the Ukraine Facility to Ukraine.

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