Macro-financial assistance should be linked to policy conditions to be set out in a Memorandum of Understanding (MoU). The MoU should include robust and ambitious reform commitments by Ukraine, including those to strengthen revenue mobilisation to support Ukraine’s financing needs and tackle the root causes of corruption in public finances, including via improving the sustainability and quality of public expenditure and enhancing the efficiency, transparency and accountability of the public finance management systems. It should be possible for such macro-financial assistance to be used by Ukraine to assist in the financing of compensation, as a form of reparation, to those individuals who have suffered damage from the illegal actions of Russia, including through the Claims Commission for Ukraine established under the auspices of the Council of Europe. The Council implementing decision approving the assessment of the Ukrainian Financing Strategy should establish the maximum number and indicative value of instalments for the macro-financial assistance. In view of the principle of sound financial management and to facilitate the Ukrainian authorities’ liquidity management and ensure predictability, there should, in principle, be a maximum of four instalments of that macro-financial assistance.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
