Article 6 — Commission implementing decision on the eligibility of the bilateral loans

1. If Ukraine wishes to request support under the Mechanism to assist it to repay a bilateral loan, it shall submit the text of the relevant bilateral loan agreement to the Commission by 1 June 2025. 2. The Commission shall without delay assess the eligibility of bilateral loans under the Mechanism in accordance with the following criteria: (a) the bilateral loan agreement was not signed before 20 September 2024; (b) the counterparty to the bilateral loan is acting under the auspices of the G7 Extraordinary Revenue Acceleration Loans for Ukraine initiative; and (c) the bilateral loan is to be fully disbursed to the benefit of Ukraine before 31 December 2027; such disbursements may be linked to the completion of policy conditions. For the purposes of the assessment, the Commission may seek additional information from Ukraine. 3. A suspensive condition in a bilateral loan agreement that provides that such agreement does not enter into force before the approval by the Commission of the eligibility of the bilateral loan or before the entry into force of the agreement for the implementation of the Mechanism referred to in Article 7 shall not prevent a positive assessment by the Commission of the bilateral loan. 4. The Commission shall approve the eligibility of a bilateral loan by means of an implementing decision. 5. The Commission implementing decision referred to in paragraph 4 of this Article shall set out: (a) the bilateral lender; (b) the principal of the bilateral loan expressed in euro; to the extent necessary, the principal of the bilateral loan shall also be expressed in the currency of the respective bilateral loan, where the conversion rate for the bilateral loan to euro shall be the daily euro exchange rate published in the C series of the Official Journal of the European Union on 20 September 2024; and (c) the justification for the positive assessment of the bilateral loan. 6. The sum of the principals of all bilateral loans approved by the Commission in accordance with this Article and the MFA Loan shall not exceed the amount laid down in Article 5(4). 7. The Commission may repeal the implementing decision referred to in paragraph 4 of this Article if the relevant bilateral loan agreement does not enter into force by 30 June 2025. 8. In the case of a negative assessment of the bilateral loan, the Commission shall communicate that assessment to Ukraine, giving reasons for its assessment.