EU releases €250 million loan for Ukraine

EU releases €250 million loan for Ukraine

EU releases €250 million loan for Ukraine

The FINANCIAL -- The EU on April 21 disbursed a loan of €250 million to Ukraine, the last disbursement under the first Macro-Financial Assistance (MFA) operation for Ukraine, which amounts to a total of €610 million, according to EU Neighbourhood Info Centre.

The objective of the programme is to address Ukraine's urgent financing needs, while supporting Ukraine's economic stabilisation and reform agenda. This MFA operation in Ukraine has supported in particular reforms in public finance management and anti-corruption, trade and taxation, the energy sector and the financial sector.
 
Vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue, said: "Europe stands together with Ukraine during these difficult times, both politically and financially. Ukraine is making great efforts to reform the country's economy and governance in order to strengthen its competitiveness and bring it closer to the EU's rules and values..."
 
Macro-Financial Assistance is an exceptional EU crisis response instrument available to the EU's neighbouring partner countries. This operation is complementary to assistance provided by the IMF. MFA loans are financed through EU borrowing on capital markets. The funds are then on-lent with similar financial terms to the beneficiary countries.