The European Commission has approved the launch of the fourth program of macro-financial aid to Ukraine.
The legislative proposal for the launch of the program stipulates funding amounting up to EUR 1 billion.
The terms for the first tranche under the new program are based on the terms of the previous program which were not fulfilled. The Government of Ukraine and the European Commission will prepare other terms for the program which will be in line with the priorities of Ukraine aimed to strengthen the Ukrainian economy and to implement structural reforms.
“The adoption of the new micro-financial aid program for our country by the European Commission is a crucial step supporting reforms and financial stability in Ukraine. Despite our significant results achieved over the last several years, we still have a lot to do to transform Ukraine into a successful European country with a developed and stable economy. We have an ambitious reform agenda which we must follow”, Minister of Finance Oleksandr Danyliuk said.
The preliminary agreement about the fourth micro-financial aid program for Ukraine was achieved on November 23 last year during the bilateral meeting of President of Ukraine Petro Poroshenko and President of the European Commission Jean Claude Juncker which took place as part of the Eastern Partnership Summit.