Monday, 19 August

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The European Union agreed to provide Ukraine with an assistance tranche of after the launch of the new energy market

The European Union is ready to allocate another tranche of the Fourth program of macro-financial assistance in the amount of EUR 500 mln to Ukraine.

This was reported by "Ukrainian News" with reference to the Declaration of the parties based on the results of the EU-Ukraine summit in Kyiv.

"The EU is ready to provide the second tranche (EUR 500 mln) of the Fourth macro-financial assistance program as soon as the relevant conditions are met," the Declaration says.

Ukraine has launched a new electricity market on July 1. This reform was one of the key conditions for the country to receive the next tranche of macro-financial assistance in the amount of EUR 500 mln euros in 2019.

In September 2018, representatives of Ukraine and the EU signed a credit agreement on the provision of the Fourth EU macro-financial assistance program to Ukraine (MFA IV) for EUR 1 billion and a Memorandum of understanding, which sets out the conditions for the allocation of these funds. The amount of EUR 1 bln was divided into two equal tranches, the first of which the EU transferred in December 2018. Getting the second was expected for spring 2019.

The main conditions for obtaining assistance: the law stipulating the fight against money laundering, the law on the authorized economic operator (AEO), as well as the operation of an automatic system of verification of e-declarations, the implementation of the law on the electricity market and the adoption of a medium-term plan for reforming tax and customs services.