The program for 1,8 billion euros for this country was approved in 2015 year. Kiev has so far received 1,2 billion euros. Money is allocated in exchange for the fulfillment of certain requirements by the country, among which is the implementation of reforms. The program will cease to operate at the beginning of January 2018.
Ukraine has fulfilled a significant part of the obligations agreed upon with the European Union in order to receive the third and last tranche of this program. However, a number of measures remained unfulfilled.
Therefore, the European Commission is unable to transfer the last tranche of the current program of macrofinancial support- says the EC.
At the same time, the “European Commission is ready to assess the relevance of the program’s successor” and, if necessary, “submit a proposal for a new operation on macro-financial support at the beginning of 2018,” the release says.
President of Ukraine Petro Poroshenko said earlier that he expects the European Commission to announce a new program of financial assistance to the country for 1,8 billion euros on Friday, reports RIA News