"The conflict in the East of the country has had a heavy toll on the economy. Today the Commission has proposed new macro-financial assistance (MFA) to Ukraine of up to 1.8 billion euros in medium-term loans," the press release stated.
The new program is to assist the country in the economic challenges it faces, such as a weak balance of payments and fiscal situation. It would first need the approval of the European Parliament and the EU Council of Ministers. This would be the third MFA program for Ukraine, and could be implemented in 2015 and early 2016.
According to the statement, the package, which will be tied to reforms, is intended to help the "the new reform-oriented government strengthen the country."
Ukraine is facing a grave economic crisis due to an armed conflict in the east of the country. In 2014, the country received 1.36 billion euros under existing European Commission programs. Since April, Kiev has received $8.2 billion from the International Monetary Fund and other international organizations.
[sputniknews.com]
8/1/15
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EU offers 1.8 bln euros for Ukraine as Germany seeks reform ...
ReplyDeleteThe European Union proposed on Thursday offering an additional 1.8 billion euros ($2.1 billion) to help save Ukraine from bankruptcy as Kiev assured Germany it had credible plans to modernize.
With an International Monetary Fund team resuming talks in Kiev, the European Commission offered the medium-term loans to add to the 1.4 billion euros it handed over last year, subject to approval by EU governments and EU lawmakers.
"Europe stands united behind Ukraine," Commission President Jean-Claude Juncker told a news conference in the Latvian capital Riga, where he announced the aid.
The EU's offer came on the day German Chancellor Angela Merkel met Ukraine Prime Minister Arseny Yatseniuk in Berlin. The German leader said later she had heard a convincing case for reform..................http://www.todayonline.com/world/eu-offers-18-bln-euros-ukraine-germany-seeks-reform
8/1/15
EU-Ukraine: Commission proposes further €1.8 billion in macro-financial assistance ...
ReplyDeleteEuropean Commission - Press release:
The European Commission is ready to further assist Ukraine, which has been hit hard by a deep recession. The conflict in the East of the country has had a heavy toll on the economy. Today the Commission has proposed new macro-financial assistance (MFA) to Ukraine of up to €1.8 billion in medium-term loans. The new MFA programme, which is to be approved by the European Parliament and the Council of Ministers of the EU, is intended to assist Ukraine economically and financially with the critical challenges the country is facing, such as a weak balance of payments and fiscal situation. The intention is also to help the new reform-orientated government strengthen the country and deal with economic and political challenges. The macro-financial assistance proposed today will be linked to certain reform actions.
European Commission President Jean-Claude Juncker said: "Ukraine is not alone. Europe stands united behind Ukraine and the reform agenda of the new government. Our actions speak louder than our words. The European Union has provided unprecedented financial support and today's proposal proves that we are ready to continue providing that support. This is European solidarity in action. As always, solidarity goes hand in hand with commitment to reform, which is urgently needed in Ukraine. We want to help the Ukrainian government to put its reform agenda into practice and trigger real change for the country and its people.".........................http://europa.eu/rapid/press-release_IP-15-3020_en.htm?locale=en
8/1/15