Denis Shmygal: Ukraine received a 600 million euro loan from the EU in November News – current news about world events DW
The Prime Minister of Ukraine Denis Shmygal stated that Ukraine receives another tranche of macro-financial assistance from the European Union in the amount of 600 million euros in November. He wrote about this on Saturday, October 23, on his Facebook page.
Shmigal also expects a positive decision from the International Monetary Fund (IMF) in November due to the size of the next tranche of about $ 700 million under stand-by programs. “This week, the government of Ukraine and the IMF team reached a working level of agreement, which allows to begin the first revision of the joint program,” the prime minister said.
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Macro-financial assistance to Ukraine
The European Commission has approved the allocation of the second tranche of macro-financial assistance to Ukraine in the amount of 600 million euros. It was expected to arrive during October.
Read also: Ukraine has reached a new tranche from the IMF of $ 700 million
Macro-financial assistance is a loan on favorable terms that the EU provides to neighboring countries to maintain their balance of payments for a difficult economic situation. The maximum repayment period of loans is 15 years. The current program in the European Union was adopted to support the economies of neighboring countries in the context of the coronavirus pandemic. Ukraine received the first tranche of 600 million euros in December last year.