Ukrainian President Petro Poroshenko has welcomed the decision by the European Commission on a new program of macro-financial assistance to Ukraine in support of reforms and economic growth.
“This is an important element of the package of my recent agreements with EU leaders regarding the deepening of relations between Ukraine and the EU,” he wrote on his Facebook page on Friday, March 9.
Poroshenko believes that such a decision is “an acknowledgment of our progress in reforms and a signal of the EU’s continued solidarity with Ukraine.”
He expressed hope that the European Commission’s proposal would be supported by the EU Council and the European Parliament in the near future.
As reported, The European Commission adopted a proposal for a new macro-financial assistance (MFA) program for Ukraine worth up to EUR 1 billion to support economic stabilization and structural reforms.
The issue concerns the fourth macro-financial assistance program for Ukraine, which is subject to approval by the European Parliament and the Council of the European Union.
“Today’s proposal follows a request from the Ukrainian authorities and direct discussions between Commission President Jean-Claude Juncker and Ukraine’s President Petro Poroshenko. The new program seeks to build on the progress made in supporting economic stabilization and structural reforms under the three previous MFA operations,” the European Commission said in a report posted on March 9.
The European Commission said that the disbursements under this program would depend on the implementation of reforms in Ukraine.
“All disbursements under the proposed program, including the first, would be conditional on the implementation of reform measures designed to address vulnerabilities identified in the Ukrainian economy. Established in a Memorandum of Understanding, they would take into account measures that remain outstanding from the previous MFA program and include steps to intensify the fight against corruption,” the European Commission said.
