The European Commission on Monday, April 28, will finally approve the allocation of EUR 1 billion of macro-financial assistance to Ukraine, said the representative of the European Commission, Pia Arenkende Hansen. “Today we will sign a memorandum of understanding on a new 1 billion euro loan as part of a macro-financial assistance program for Ukraine, as part of a package of 11 billion aid that we announced on March 5,” Interfax-Ukraine representative said on Monday, April 28 .
Hansen recalled that earlier the allocation of this aid package to Ukraine was approved on April 14 by the EU Council.
A medium-term loan of up to 1 billion euros will be used to cover the urgent needs of the balance of payments, as defined in the economic management program supported by the IMF.
This assistance is being allocated at the same time as already approved, but not yet allocated, macro-financial assistance in the amount of 610 million euros.