The EU has announced the conditions under which Ukraine will receive aid: details
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The EU wants to link part of its €8.4 billion aid to Ukraine to tax changes demanded by the International Monetary Fund.
Bloomberg reports this.
These changes will affect the macro-financial part of the loan, worth 8.4 billion euros.
EU member states agreed on the terms of financial assistance on Monday, May 18.
This was announced by Economic Commissioner Valdis Dombrovskis on the social network X.
To receive this money, Ukraine will have to pass legislation expanding the list of foreign parcels that will be subject to a 20% value-added tax.
Kyiv may receive the first payment as early as June, the second in September, and the third before the end of the year.
This requirement reflects the condition set by the IMF for providing assistance to Ukraine in the amount of US$700 million.
The EU is agreeing on some conditions for providing aid to Ukraine in line with the demands of the Washington creditor.
“The program will strengthen Ukraine’s economic and financial resilience while supporting reform efforts and the fight against corruption,” Dombrovskis commented.
Ukrainian Finance Ministry spokesman Dmytro Herasimenia announced that the government continues to work on an agreement on financial assistance from the EU.
In particular, Ukrainians strongly oppose measures that could increase their tax burden, even if the additional revenue is needed to finance military needs.
But Ukraine depends heavily on EU aid.
The IMF and the EU have already agreed to postpone for a year another significant tax change that will expand the range of Ukrainian entrepreneurs subject to VAT.
Earlier, “Pryamiy” reported that Ukraine could receive the first funds from the 90 billion euro loan as early as May.
It is noted that payments are calculated until 2027. At the same time, discussions on further funding for Ukraine continue in the EU.
It is also known that Ukraine has received another tranche of financial assistance from the European Union – 1 billion euros have been transferred to the state budget under the ERA Loan program.
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