KIEV (Sputnik) — Kiev expects to get 600 million euros ($643.1 million) in financial assistance to the country between April 3-7, Svyatoslav Tsegolko, Press Secretary of the President of Ukraine Petro Poroshenko said Thursday.
"From April 3 to 7 we expect the micro-finance assistance from the European Union at the amount of 600 million euros – president after the meeting with [EU Commission President Jean-Claude] Juncker," Tsegolko wrote on Twitter.
The post was followed by a statement from Poroshenko’s press service saying that the next portion of aid from the international MFA for Ukraine would contribute to the stabilization of the state budget, as well as replenish foreign exchange reserves.
Ukraine’s president added that the International Monetary Fund (IMF) will meet on Monday and discuss the allocation of a loan package amounting to $1 billion.
"This will significantly replenish the foreign exchange reserve of the country and its budget stability," Poroshenko emphasized.
Poroshenko is scheduled to travel to Malta for a state visit on April 29-30.
The decision to release the loan constituting the second MFA loan to Ukraine was taken on March 16. Four days later, Poroshenko said he expected the loan to be allocated just after the IMF tranche.
The IMF approved a four-year program of financial aid to Ukraine in March 2015, which stipulates provision of a $17.5 billion loan to revive the country's economy and the implementation of economic reforms. Kiev had already received three tranches totaling $7.7 billion and expects to get $5.4 billion in 2017.
The total MFA that the European Union has extended to Ukraine since 2014 will reach €2.81 billion including the expected loan. These funds form the largest amount of MFA the bloc has disbursed to any non-EU country, according to the EU Commission.
