Kyiv asked the EU for additional financial assistance

Ukraine has begun negotiations with the European Commission (EC) on a new financial assistance package worth more than €1.2 billion, Yuriy Butsa, government commissioner for public debt management of Ukraine, told BLOOMBERG.

“We have asked the European Commission for a long-term, macro-financial program to ensure sustainable financing in the coming years,” he explained.

However, Butsa did not disclose the conditions for the allocation of a new tranche. According to him, the commission is ready to provide Ukraine with further support as long as its package, designed for three years, will work in parallel with the new support program from the International Monetary Fund (IMF).

Butsa added that the administration of Ukrainian President Volodymyr Zelensky has already begun negotiations with the EU over the amount of financial assistance and the terms associated with the new loan package.