Ukraine has received the second and third tranches of the EU macro-financial assistance in the amount of 260 million euro and expecting the next tranche of up to 250 million euro in February 2015 on the results of fulfilling the terms of the Stand-By Arrangement with the International Monetary Fund (IMF) and the terms of credit cooperation with the EU, according to the Ministry of Finance.
The ministry said that the rate of the loan received is 1.375 percent per annum, the maturity date is Oct. 4, 2024.
The loan funds were issued under the memorandum of understanding between Ukraine as a borrower and the EU as a lender and the loan agreement between Ukraine as a borrower, the National Bank of Ukraine as an agent of the borrower and the EU as a creditor on providing macro-financial assistance from the EU in the amount of up to 610 million euro, signed on April 16, 2013 and ratified by the Verkhovna Rada on March 4, 2014.
The issue of the next tranche depends on the fulfillment of criteria stipulated in the memorandum in the fields of public finance management, taxation and trade, energy, as well as the implementation of policies in the financial sector.
