BRUSSELS: The European Commission signed \u200con Thursday a memorandum of understanding with Ukraine on a macro-financial assistance program that paves the way \u200bfor a 3.2 billion euro disbursement in mid-June, once it is ratified by the Ukrainian parliament.<\/p>\n
The macro-financial assistance is part of the EU\u2019s bigger, 90 billion euro financing scheme that is to keep Kyiv funded throughout 2026 and 2027 as it fends off Russia\u2019s invasion.<\/p>\n
\u201cWe \u200chave finalized our \u200cnegotiations with Ukraine on \u200bthe memorandum \u200cof \u2060understanding \u200bunderpinning our \u2060macro financial assistance program as part of the Ukraine support loan,\u201d European Economic Commissioner Valdis Dombrovskis said.<\/p>\n
\u201cI signed it this morning, and now it\u2019s still for Ukrainian side to sign, and it also needs to be ratified by the \u2060Rada in Ukraine, …so that we can \u200cthen proceed with disbursements,\u201d \u200che told reporters.<\/p>\n
The agreement on the \u200bwhole loan of \u200c90 billion euros could be signed in a \u200cmatter of days, Dombrovskis said. Of the overall 90 billion euro loan, 45 billion will be disbursed this year and another 45 billion in 2027.<\/p>\n
Of the \u200cmoney coming this year, 28.3 billion is earmarked for military spending and 16.7 \u2060for \u2060general budget support. The general budget cash is split in half between the macro-financial assistance and the so-called Ukraine facility dedicated to Ukraine\u2019s recovery, reconstruction, and modernization.<\/p>\n
Dombrovskis said the macro-financial assistance money was conditional on Ukraine implementing reforms with a strong fiscal focus, to boost domestic revenue mobilization, public spending efficiency and public financial management systems.<\/p>\n
\u201cWe also coordinated closely with the International \u200bMonetary Fund so that \u200bconditions are consistent and where necessary, let\u2019s say additional or complementary to the IMF program,\u201d Dombrovskis said.<\/p>\n","protected":false},"excerpt":{"rendered":"
BRUSSELS: The European Commission signed \u200con Thursday a memorandum of understanding with Ukraine on a macro-financial assistance program that paves the way \u200bfor a 3.2 billion euro disbursement in mid-June, once it is ratified by the Ukrainian parliament. The macro-financial assistance is part of the EU\u2019s bigger, 90 billion euro financing scheme that is to …<\/p>\n","protected":false},"author":4,"featured_media":98075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-98058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/98058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=98058"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/98058\/revisions"}],"predecessor-version":[{"id":98076,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/98058\/revisions\/98076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/98075"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=98058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=98058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=98058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}