Ukraine and the European Union have signed a framework agreement for EU financing under the Ukraine Facility instrument for 50 billion euros, the Ministry of Economy reported .Details
The relevant agreement was signed by First Deputy Prime Minister and Minister of economy of Ukraine Yulia Sviridenko and EU Commissioner for European Neighborhood Policy and Enlargement Negotiations Oliver Vargei.
The agreement defines the mechanisms of financial cooperation between the EU and Ukraine, in particular on the management and control of the use of funds within the framework of the Ukraine Facility and joint measures to prevent corruption.
"The agreement reflects procedures that will be aimed at efficient, transparent and accountable use of financial resources, which is a necessary condition for further European integration," Sviridenko said.
The document will enter into force after ratification by the Verkhovna Rada of Ukraine.