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EUR 600m of EU aid to Ukraine postponed due to delay in reforms - Finance Ministry

EUR 600m of EU aid to Ukraine postponed due to delay in reforms - Finance MinistryThe attraction of the third tranche of macrofinancial assistance from the European Union has been postponed until next year, Ukrainian Deputy Finance Minister Yuriy Butsa has said.

"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 organised by ICU Investment Group in Odesa on Friday.

He said that changes in the schedule for receiving financial assistance from the EU are linked to a delay in 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.
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