EC Assistance Programs Last Tranche to Ukraine Expected By Spring

The disbursement depends on Ukraine implementing policy measures, such as further fiscal consolidation, the improvement of macroeconomic management and a continuation of energy and banking reforms, according to the European Commission.

BRUSSELS, January 8 (Sputnik) — The final tranche of 250 million euros ($296 million) of the European Commission's financial assistance programs to Ukraine is expected by spring of 2015, the Commission said in a Thursday press release.

"The disbursement of the final tranche of 250 million euros under these programmes could be expected by the spring of 2015," the press release stated.

According to the European Commission, the disbursement depends on Ukraine implementing policy measures, such as further fiscal consolidation, the improvement of macroeconomic management and a continuation of energy and banking reforms. It also depends on a continued satisfactory track record with the International Monetary Fund (IMF). Strengthening of economic governance and transparency, as well as the fight against corruption, are also factors considered important by the Commission.

On Thursday, the Commission announced the proposal of a third assistance program to Ukraine of 1.8 billion euros, subject to the implementation of the policy measures and the country's IMF record.

Ukraine is facing a grave economic crisis due to the armed conflict in the east of the country. During the course of 2014, the country received 1.36 billion euros under existing European Commission programs. Since April, Kiev has received $8.2 billion in funding from the International Monetary Fund and other international organizations.