Ukraine and the EU are approaching the final stage of negotiations on a €90 billion loan: the European Commission announced “significant progress”

Ukraine and the EU are approaching the final stage of negotiations on a €90 billion loan: the European Commission announced “significant progress”

Ukraine and the European Union continue negotiations on the Memorandum of Understanding for providing Ukraine with macro-financial assistance under a €90 billion loan, discussing the economic and political conditions for receiving the funds.

This was stated by European Commission spokesperson Balázs Ujvari.

The EU and Ukraine are still discussing the terms for disbursing a budget tranche from the EU’s €90 billion loan.  

“We really still need to finalize three documents, and the most advanced one is the one concerning the Memorandum of Understanding (on macro-financial assistance to Ukraine. – ‘EP’). We are not quite there yet, but we have made significant progress,” Ujvari told European Pravda.

He recalled that the Memorandum of Understanding, which underpins the macro-financial assistance programme, is based on three pillars. 

“These are the need to have an agreed IMF programme, which Ukraine has, economic reforms, and some political conditions,” the spokesperson clarified.

He noted that “the negotiations (with Ukraine) are going very well”. 

“Give us a little time, and then, hopefully, very, very soon we will be able to give you the final green light on this front,” Balazs Ujvari said.