The European Parliament adopted by 492 votes to 107, with 13 abstentions, a legislative resolution on the proposal for a decision of the European Parliament and of the Council providing macro-financial assistance to Ukraine.
Parliament adopted its position at first reading following the ordinary legislative procedure without making amendments to the Commission proposal.
Under this Decision, the Union shall make macro-financial assistance available to Ukraine of a maximum amount of EUR 1.8 billion, with a view to supporting Ukraine's economic stabilisation and a substantive reform agenda. The assistance shall contribute to covering Ukraine's balance of payments needs as identified in the IMF programme.
The full amount of the Union's macro-financial assistance shall be provided to Ukraine in the form of loans. The Commission shall be empowered on behalf of the Union to borrow the necessary funds on the capital markets or from financial institutions and to on-lend them to Ukraine. The loans shall have a maximum maturity of 15 years. The Union's macro-financial assistance shall be made available by the Commission in three loan instalments.
A pre-condition for granting the Union's macro-financial assistance shall be that Ukraine respects effective democratic mechanisms – including a multi-party parliamentary system – and the rule of law, and guarantees respect for human rights.
The Commission shall regularly inform the European Parliament and the Council of developments regarding the Union's macro-financial assistance and shall provide those institutions with the relevant documents in due time.