The Finance Ministry expects €500 million of aid from the EU in March

The Finance Ministry of Ukraine expects in late March-early April to draw 2nd tranche macrofungi the EU.

Мінфін очікує €500 мільйонів допомоги від ЄС у березні

The Ministry of Finance is working on the implementation of the EU requirements to the end of March-beginning of April to draw the second tranche of macro-financial assistance of 500 million euros, said the head of the Department Oksana Markarova, informs Rus.Media.

“We are working on implementing conditions. But at the end of March – early April is realistic (the raising of the second tranche)”, – she said to journalists at the annual investment conference of Dragon Capital in Kyiv on Tuesday. A. Markarov reminded that we are talking about the adoption of two bills relating to the reform of the customs service.

In addition, the Finance Minister said that the terms of cooperation with the EU include: between tranches of macro-financial assistance may not be less than three months. “Therefore, given that the previous installment we received in December, this installment, even if we all perform, we will not be able to before March,” she said.

As reported, representatives of Ukraine and the EU in September 2018 signed a loan agreement on the allocation of the 4th program of the EU macro-financial assistance to Ukraine (MFA IV) to 1 billion euros and a Memorandum of understanding, which sets out the conditions of allocation of these funds. The amount of 1 billion euros divided into two tranches.

The first tranche with a volume of EUR 500 million, the European Commission listed to Ukraine in December 2018.

To receive the first tranche of the MFA of Ukraine, in particular, must perform a module update check your declarations to ensure they are logical and arithmetic control and set the automatic exchange of data between the scanning module and the corresponding state register.

In terms of requirements for beneficiaries, it was necessary to amend the registration process of the company so that when you access the registry a legal entity provided additional information on the beneficial ownership. Speech, in particular, the indication of the beneficial ownership of the percentage interest of each beneficial owner, a description of the ownership structure and explain the reasons why the beneficiary cannot be specified.

In addition, among the conditions was the completion of the formation of the Supervisory Board of “Ukrenergo” with the independent members and the announcement of the selection of these Supervisory boards has at least three other major state-owned companies with professional companies selection, as well as placed on sale at least 200 small-scale privatization.

The second tranche should arrive in the spring of 2019, the evaluation of the implementation by Ukraine of measures to reform the relevant sectors in the implementation of public policy.

The European Union in 2014 has provided Ukraine with 2.81 billion euros macro-financial assistance. The third installment of the third program macro-financial assistance of 600 million euros was repealed January 18, 2018, for violations of the country of agreed conditions.

Ukraine has not fulfilled the four requirements, in particular, the lifting of the ban on the export of roundwood, the launch of automatic check of e-declarations, the law on the credit register of the Bank and verifying information on beneficial owners of companies.

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