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    November 22, 2017

    Ukraine must clear 4 more hurdles to get next loan tranche

    November 22, 2017 - Fort Russ News -

    Novorosinform, translated by Tom Winter -

    The EU has threatened to deprive Ukraine of a tranche of 600 million euros. 

    Ukraine may lose the third tranche of financial assistance from the EU in the amount of 600 million euros, if in the near future it does not fulfill four remaining requirements. This was stated on Wednesday by the EU ambassador Hugues Mingarelli in an interview with European Pravda.

    "There are still four more requirements that Ukraine has not fulfilled: 
    first, the ban on the export of roundwood has not yet been lifted, 
    the second is the launch of an automatic verification of e-declarations, 
    the third is the law on the NBU credit registry and 
    the fourth is the verification of information on the beneficiary owners of companies," Mingarelli said.

    At the same time, the ambassador noted that the deadline for fulfilling these requirements "expires in the near future, and this period can not be extended."

    "If in a few days the European Commission finds that these requirements have not been met - the money will be lost for Ukraine," Mingarelli added.

    Earlier it was reported that the European Union allocated 12 billion euros to Ukraine, over three years.

    We add that on November 14, World Bank Group President Jim Yong Kim said that the World Bank and the IMF had exhausted the credit limit for Ukraine.

    In April this year, the World Bank severely criticized Kiev for the irrational expenditure of funds that were provided to it.

    Earlier, in early April, the International Monetary Fund announced the requirements for Ukraine, which became a condition for the next tranche of $ 1 billion.
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