EU signs financial agreement with Ukraine

EU signs financial agreement with Ukraine

EU signs financial agreement with Ukraine

Written by Tharushan Fernando

22 May, 2015 | 7:57 pm

The European Union and Ukraine signed an agreement,today, for an additional 1.8 billion euros in EU financing to Ukraine.

Ukrainian President Petro Poroshenko oversaw the signing which took place on the sidelines of an “Eastern Partnership” summit between EU leaders and six ex-Soviet states in Riga, Latvia.

European Euro and Social Dialogue Commissioner Valdis Dombrovskis, Ukrainian Finance Minister Natalie Jaresko and Governor of the National Bank of Ukraine Valeria Gontareva signed the agreement. This the third macrofinancial assistance programme the EU has given to Ukraine.

Ukrainian Finance Minister Natalie Jaresko has stated that the agreement also includes a policy programme drawing from the reform agenda of the Ukrainian authorities and that anti-corruption is one of the three principal areas of reform efforts, along with stabilisation of Ukraine’s financial and monetary system, as well as re-building the country’s business environment.

The EU had stated that they envisaged to disburse the package in three equal tranches of €600 million and the agreement must now be ratified by the Ukrainian Parliament.

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