Today, the European Parliament has approved the legislation proposed by the European Commission to launch a new (fourth) program of macro-financial aid to Ukraine.
The new program stipulates macro-financial aid to Ukraine amounting up to EUR 1 billion aimed to support its further economic stabilization and significant reform programs. The funds are to be transferred in two tranches as loans.
The European Commission submitted its proposal on the new aid program to the European Parliament and the EU Council in March 2018 following the request of the Ministry of Finance of Ukraine and in line with previous arrangements agreed during the bilateral meeting of President of Ukraine Petro Poroshenko and President of the European Commission Jean Claude Juncker in Brussels on November 23, 2017.
The new program will supplement the previous three packages of macro-financial aid from the EU which were implemented for Ukraine after the crisis of 2014 in the amount of EUR 2.8 billion.