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Ukraine and the EU signed a macro-finance agreement worth 1.2 billion euros

Ukrainian Prime Minister Denys Shmyhal (left) and European Commissioner in charge of economics Valdis Dombrovskis after signing an agreement on macro-financial support in Brussels, Belgium on July 23, 2020. (Photo: AFP / TTXVN)

The deal is part of a $ 3.5 billion macro-financial support package Brussels proposed to 10 expansion partners and neighbors to help them curb the economic collapse of the pandemic.

According to a Vietnam News Agency correspondent in Europe, on July 23, Ukraine and the European Commission (EC) signed an agreement for a loan of 1.2 billion euros ($ 1.4 billion) - part of the chapter of macro financial assistance (MFA) program that the European Union (EU) provides to neighboring countries.

In a press release, EC Executive Vice President Valdis Dombrovskis said:
"We will support Ukraine with the new Macro Financial Assistance program of 1.2 billion euros. This also shows support. We continue with Ukraine's reform agenda, and we are delighted to have completed the Memorandum of Understanding for the new program. We will continue our strong involvement to support the direction of reform and the strategic path that Ukraine has chosen to follow."
According to the EC, the agreement is part of a $ 3.5 billion macro financial support package Brussels has proposed to 10 expansion partners and neighbors to help them curb the economic collapse of the COVID-19 pandemic.

The EC stated:
"MFA loans will be provided in the form of long-term loans with preferential terms. These will contribute to strengthening macroeconomic stability and minimizing socioeconomic consequences very negative of the COVID-19 pandemic."
Ukrainian President Volodymyr Zelensky welcomed the signing of the agreement and expressed his thanks for EU support.


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