The Ukrainian government and the European Commission signed documents on the allocation of 1 billion euros in macro-financial assistance, as well as financial assistance for state-building processes.

The signing ceremony took place in Brussels on Tuesday at a joint meeting of the Cabinet of Ministers of Ukraine and the board of the European Commission, Ukrinform's Brussels correspondent reported.

"A program of the EU macro-financial assistance in the amount of 1 billion euros is a component of the extended financial support to be provided to our state by the European Union to maintain stabilization processes in the Ukrainian economy, in particular, the balance of payments," the Mission of Ukraine to the EU has said.

Following the meeting, the sides signed a memorandum of understanding between Ukraine as a borrower and the European Union as a creditor, as well as a loan agreement between Ukraine as a borrower, the National Bank of Ukraine as an agent of the borrower and the European Union as a creditor.

In accordance with the loan agreement, the loan repayment period is 15 years.

The sides agreed that the first disbursement of this macro-financial assistance will come as soon as possible.

Also on Tuesday, Prime Minister Arseniy Yatseniuk and European Commission President Jose Manuel Barroso signed a financial agreement in the field of state-building. The agreement provides for the allocation of 355 million euros by the European Commission to assist the country in the transitional period. 10 million euros of this amount will be spent on the development of civil society in Ukraine.

As Ukrinform reported, in March the EU decided to give Ukraine a total of 11 billion euros in the form of short-, medium- and long-term loans, as well as technical assistance aimed for economic stabilization and reforms.

Ukrinform