Ukraine Expects To Receive $700Mln MFA Loan From EU In November - Prime Minister

Ukraine Expects to Receive $700Mln MFA Loan From EU in November - Prime Minister

Ukraine expects to receive the second tranche of macrofinancial assistance (MFA) from the European Union in the amount of 600 million euros (over $700 million) in November, the country's Prime Minister Denys Shmyhal said Tuesday

KIEV (Pakistan Point News / Sputnik - 14th September, 2021) Ukraine expects to receive the second tranche of macrofinancial assistance (MFA) from the European Union in the amount of 600 million Euros (over $700 million) in November, the country's Prime Minister Denys Shmyhal said Tuesday.

In 2020, the EU disbursed 600 million euros as the first tranche of macrofinancial assistance to Ukraine to mitigate the economic consequences of the pandemic.

"We have received a positive signal regarding the allocation of macrofinancial assistance. Now the European Commission is waiting for the start of the IMF mission (September 18). The deadlines for the provision of this tranche were extended, and we expect to receive these 600 million euros in the fall, approximately in November," Shmyhal told a briefing.

In August, Shmyhal announced that Kiev had fulfilled the necessary conditions for receiving the second tranche of macrofinancial assistance from the EU during a meeting with Valdis Dombrovskis, the European Commission executive vice-president. Dombrovskis, in turn, confirmed that the disbursement package for Ukraine could come in the coming weeks if the country fulfilled the conditions of the IMF program.