You're reading: Tombinski: EU to provide macro-financial assistance to Ukraine only after it resumes cooperation with IMF

The allocation by the EU of macro-financial assistance to Ukraine depends on the resumption of cooperation between Kyiv and the International Monetary Fund (IMF), EU Ambassador Jan Tombinski has said. 

“We have signed all of the documents with the Ukrainian government concerning macro-financial assistance to Ukraine, but this depends on the agreement with the IMF,” he told reporters on Tuesday, while answering a question from Interfax-Ukraine.

He said the European Union is currently waiting for the results of negotiations between Ukraine and the IMF, because macro-financial assistance can be allocated only after the IMF sees that all conditions are in place for that.

As reported, on Feb. 25, 2013, Ukraine and the European Union signed an agreement on the provision of EUR 610 million in macro-financial assistance to Kyiv.

The memorandum of understanding envisages the allocation of tranches of EUR 100 million, EUR 10 million, EUR 250 million and EUR 250 million.

The document also lays down the conditions for the allocation of the funds. The first tranche will be provided after the entry of the memorandum and the loan agreement into force and the European Commission’s conclusion about the satisfactory implementation of the arrangement with the IMF by Ukraine.