Ukraine to receive €35 billion new loan by year's end – European Commission
The EU member states and the European Parliament must swiftly finalise all legislative processes to enable Ukraine to receive disbursements on a new €35 billion loan by the end of this year.
Source: Ukrinform news agency, citing Maroš Šefčovič, Executive Vice President of the European Commission.
Details: Šefčovič emphasised the importance of reaching a swift agreement on the proposed €35 billion macro-financial assistance loan, which is part of the commitments made by the G7 countries in June. He stressed the urgency of disbursing the funds by the end of the year to ensure Ukraine has the fiscal space it requires.
The official noted that the EU is also taking concrete steps to help Ukraine prepare for the coming winter. This work involves repairing Ukraine's energy facilities, rebuilding power grids and stabilising the entire Ukrainian energy sector.
Background: The International Monetary Fund's Board of Directors will complete the fifth review of Ukraine's Extended Fund Facility (EFF) programme before its annual meetings on 21-26 October.
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