Ukraine has received the second tranche of financial aid from the EU amounting 55.125 million Euro which is in line with the Funding Agreement between the Government of Ukraine and the European Commission signed in 2014.
Why is it important?
- this support is a signal that the EU acknowledges reform progress in Ukraine;
- this gratuitous aid was granted to Ukraine based on the assessment of the reform progress in Ukraine made by the European Commission in areas including fight against corruption, improvement of the public procurement system, improvement of transparency and reporting in the public finance management, reform of the public administration system, reform of the administrative services, implementation of the constitutional reform and harmonization of the election law and the law on the funding of political parties.
What’s in it for Ukraine?
- the above funds in the Ukrainian currency, just like the first tranche, shall be used to finance the expenditure of the general fund of the state budget of Ukraine;
- this financial aid from the EU marks the next step in deepening cooperation between Ukraine and the European Union.
- this is the second and the final tranche under the above Agreement with the EU;
- the first tranche amounting 250 million Euro was granted to Ukraine in July 2014.