Agreement establishes a mechanism for providing Ukraine with non-refundable financial assistance from the EU to repay MFA (macro-financial assistance) loans and bilateral loans from partner countries. The assistance is provided to cover the principal amount, interest, and other loan-related expenses. Structurally, the agreement consists of 15 articles and 3 annexes, which regulate: the subject of the agreement, definition of terms, Ukraine’s responsibilities, compliance of bilateral loans with requirements, procedure for submitting requests and payments, reporting, communication between parties, governing law and jurisdiction, etc.
Key provisions of the agreement:
• Non-refundable assistance is provided exclusively in euros for repayment of MFA loans and bilateral loans meeting the criteria
• Ukraine can submit assistance requests twice a year
• Payments are made subject to a positive evaluation of the request by the European Commission and availability of resources
• Disputes are resolved in the EU Court, whose decisions are binding on the parties
• Ukraine waives sovereign immunity regarding disputes under the agreement
