Ukraine will not receive almost EUR 1.5 billion in one of the EU tranches due to the lack of reforms

Ukraine will receive €1.45 billion less in financial assistance under the fourth tranche of the European Union's Ukraine Facility, as Kyiv has not implemented three of the 16 required reforms. This was reported by the European Commission spokesman Guillaume Mercier, reports LIGA.net.

"The fourth tranche is the largest in terms of the amount and scope of reforms to be implemented. If all the indicators are met, Ukraine will receive EUR 4.5 billion, while 16 reforms need to be implemented," the official said.

He noted that on June 6, Ukraine submitted a request for a partial disbursement of this tranche (3.05 instead of 4.5 billion euros), in which Kyiv informed Brussels that 13 of the 16 reforms had been implemented, while three were still ongoing.

The European Commission has assessed 13 reforms as completed and proposes to the EU Council to allocate EUR 3.05 billion to Ukraine as the fourth tranche under the Ukraine Facility, said Mercier. Now the Council has to approve this assistance.

According to the official, among the three pending reforms, one concerns the law on decentralization, the second the law on the Asset Recovery and Management Agency (ARMA), and the third the selection of judges to the High Anti-Corruption Court.

At the same time, Ukraine will still be able to receive this €1.45 billion – if the reform is not completed on time, the corresponding amount is withheld for 12 months, during which time changes can be implemented and funds can be received, the European Commission spokesman said.

• The European integration law on ARMA reform was adopted by the Verkhovna Rada on June 18. On July 15, after unblocking in the parliament, the document was submitted to the president for signature, but so far the head of state has not done so. The adoption of the law will bring the country 600 million euros assistance under the Ukraine Facility.

• This mechanism is designed to support Ukraine until 2027, with a total amount of assistance of EUR 50 billion.