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600 million from EU to Ukraine postponed for 2017

Staff Writer | October 1, 2016
The attraction of a third tranche of macrofinancial assistance from the European Union has been postponed until next year, Ukrainian Deputy Finance Minister Yuriy Butsa said.
Yuriy Butsa
Help   A delay in passing required legislation by Ukraine
"The EUR 600 third tranche of macrofinancial assistance is postponed. We hope to raise it early next year," he said at the Ukrainian Financial Forum organized by ICU Investment Group in Odesa.

He said that changes in the schedule for receiving financial assistance from the EU are linked to a delay with passing required legislation by Ukraine.

"It was planned that we would receive two macrofinancial assistance tranches – second and third – EUR 600 million each. Parliament only recently passed the law on the NCER [National Commission for Energy, Housing and Utilities Services Regulation]. We now have a chance of receiving only the second tranche. We also understand we cannot meet the conditions for getting the third tranche," Butsa said.

He said that the law on civil service and the law service in municipal authorities must be passed in order to receive the third tranche.