Ukraine expects to receive 600 million euros from the EU by September - Ministry of Finance
Ukraine expects to receive the second tranche, 600 million euros, of macro-financial assistance from the European Union by September.
Finance Minister Serhii Marchenko stated this at a meeting with the head of the European Commission's Support Group for Ukraine, Deputy Director-General for Neighbourhood Policy and Enlargement Negotiations Katarína Mathernová, the press service of the Ministry of Finance reports.
"We're grateful to the European Commission for its support and assistance in December 2020, receiving the first tranche of 600 million euros. Now the government and the Ministry of Finance are doing everything possible to fulfill the program and receive the second tranche from the EU by September 2021," Marchenko said.
The Ministry of Finance stressed that Ukraine must fulfill several obligations to receive the second tranche under this program.
It's about initiating and continuing reforms in the following areas: public finance management, proper governance, and the rule of law, improving the business climate, sectoral reforms, and state-owned enterprises.
The participants also discussed further cooperation in forming and implementing the Public Financial Management Strategy for 2021-2025, developing the public financial management program in Ukraine, establishing the Economic Security Bureau, and continuing cooperation with the IMF.
In particular, Marchenko thanked the European party for cooperation within the EU4PFM program. After all, this project is the largest in terms of both the scope of the reform and the amount of support.
"Over the two years of EU4PFM implementation, we have achieved significant positive results. Namely, in reforming legislation and institutions in the tax and customs fields, development of IT systems and general coordination of PFMS, institutional development, and modernization of the human resources management system of the Ministry of Finance and the Accounting Chamber," the Minister said.
Marchenko also commented on the current state of the negotiation process with the IMF.
According to him, Ukraine is in active dialogue with the Fund to address three main issues: maintaining the independence of the National Anti-Corruption Bureau, holding competitions for positions in the High Council of Justice, and implementing the law on criminal liability for incorrect information in declarations.
"Other issues related to budgeting, budget consolidation, the National Bank of Ukraine, energy have already been resolved," the official assured.
As reported by Rubryka, on July 23, 2020, Ukraine and the EU officially approved an agreement on macro-financial assistance, a loan of 1.2 billion euros.
Brussels agreed to transfer half of the funds without additional conditions and Ukraine received them in December 2020. To receive the next 600 million, Ukraine must carry out a series of reforms.
