The Ukrainian government is planning to finish negotiations on a credit agreement to receive macro financial aid from the European Union in July.
This is stipulated in instruction No. 184-r of the Cabinet of Ministers dated April 5, 2012 on a plan of primary actions for the integration of Ukraine with the EU for 2012.
"With the aim of obtaining macro financial aid from the EU: [Ukraine has to] finish negotiations on a memorandum of understanding between Ukraine and the EU, and a credit agreement between Ukraine (the borrower), the National Bank of Ukraine (the borrower’s agent), and the EU (the creditor), to receive macro financial aid," reads the document posted on the Web site of the government.
According to the document, a bill on ratification of a relevant agreement on credit will be drafted within two months of the signing of the agreement.
As reported, EU Commissioner for Enlargement and European Neighborhood Policy Stefan Fule in March 2012 confirmed the EU’s readiness to provide additional macro financial aid to Ukraine in amount of EUR 610 million as soon as the country resumes cooperation with the International Monetary Fund.
