Ukraine to repay EU’s 90 billion euros in aid by implementing reforms — newspaper

MOSCOW, April 26. /TASS/. Before receiving the 90 billion euros in aid from the EU, Ukraine must define a list of reforms that Kiev will commit to implementing in exchange for new tranches, the Evropeyskaya Pravda newspaper reported, citing sources. On April 23, the EU approved a 90-billion-euro loan for Kiev. However, Ukraine is not expected to receive the first tranche until May or June. Several weeks or months of negotiations and a series of legal decisions that both sides must adopt still lie ahead. The most critical stage is the European Commission’s negotiations with Kiev regarding the conditions for receiving the funds. This involves a list of reforms that Ukraine will commit to implementing in exchange for new tranches. The list must be approved by a majority of EU member states. The EU Council has formalized the decision that this list will be non-negotiable. Specifically, the reforms will address the rule of law and fighting corruption. The EU and Ukraine must also adopt legal decisions to trigger the loan. This includes a loan agreement for 90 billion euros, a memorandum of understanding on macro-financial assistance that sets the conditions for part of the package, and amendments and additions to the loan agreement under the Ukraine Facility, all of which are currently being discussed with Ukraine and will require signatures from both parties. According to the newspaper's sources, Ukraine will receive "military" funds without conditions, but budgetary assistance will be provided only in exchange for implementing reforms. Furthermore, these reforms are not new requirements for Ukraine, but rather reforms to which Kiev has already committed, including those within the framework of the EU accession process.