Brussels took Kyiv 610 million euros

Today, as part of the Ukraine -EU summit, all the necessary documents were signed to provide Ukraine with macro financial assistance in the amount of 610 million euros.

In particular, two basic documents were envied: “A memorandum of understanding between Ukraine as a borrower, and the EU, as a creditor” and “A credit agreement between Ukraine, as a borrower, and the National Bank of Ukraine, as an agent of the borrower and the European Union, as a lender”. The Minister of Finance Yuri Kolobov and the head of the National Bank Igor Sormin, on behalf of the European Union, were put their signatures under the documents, ollie Ren vice -president of the European Commission.

The term allotted for the provision of material assistance to Ukraine is two years from the moment the memorandum entered into force.

Money will be transferred to Kyiv in parts of 100, 10, 250 and 250 million euros. These requirements of the European Union are caused by the need to control the fulfillment of the conditions of the loan listed in the memorandum, namely, compliance with certain criteria in the field of public finance, trade, energy management, as well as the implementation of tax policy and policy in the financial sector. The first 100 million euros will be given only after the output of the European Commission on the satisfactory progress of the implementation of agreements with the International Monetary Fund.

The credit agreement establishes regulatory restrictions and technical requirements for the transfer of money to Ukraine and the subsequent return back to Brussels. The deadline for repayment of debt by agreement may not exceed 15 years.

Both documents will gain legal force from the moment the European Commission received an official message in the form of a legal withdrawal of the Minister of Justice of Ukraine on the implementation of all constitutional and legally conditions for the entry into force of the agreement. For this, the Ukrainian minister has no more than 12 months.