The European Commission has published a Memorandum with Ukraine on the program of macro-financial assistance (MFA+) in the amount of up to 18 billion euros. The Ukrainian authorities have undertaken a number of obligations to receive loan tranches.
This is reported by the EC.
According to the document, in order to allocate the second and subsequent tranches, the Ukrainian authorities must demonstrate satisfactory progress in accordance with the tentative schedule.
Macro-financial stability
1. Implementation of the road map for the gradual abolition of temporary emergency measures taken after the start of the war in the field of tax policy, in a sequential order, with due consideration of security and its impact on the economic situation. [1-2 quarters of 2023].
2. Measures to support the stability of the banking system:
introduction of an agreed methodology for succession in the supervisory boards of state banks [1 q. 2023];
preparation for launching the assessment of assets of commercial banks [3 q. 2023].
3. Improving the regimes of bankruptcy of legal entities (corporate bankruptcy) and insolvency of individuals by preparing legislation that allows individuals to fully repay debts in accordance with the main principles of the EU Directive 2019/1023 on the basics of preventive restructuring [3 q. 2023].
4. Measures to strengthen the insurance system: verification by the National Bank of Ukraine of the ownership structures of insurers and their compliance with legislative prudential requirements in order to build a transparent and competitive insurance market [Q3. 2023].
Structural reforms and effective management
1. Initiate the implementation of the Action Plan on deregulation of economic activity and improvement of the business climate, including deregulation of the license and permit system (end of February), improvement of the electronic construction portal [Q1. 2023], simplification of temporary buildings for business [2 sq. 2023], cancellation of obsolete provisions [3 sq. 2023] and digitalization of license issuance [4 q. 2023].
2. Further development of the public procurement system with the aim of bringing it into line with EU legislation to ensure transparent and competitive procurement, including for the recovery of Ukraine in the post-war period and with regard to medical procurement, preservation of the State Enterprise "Medical Procurement" of Ukraine as the only national purchaser of medical equipment , medicines and vaccines at the central level.
3. Promotion of customs administration reform, including improvement of IT systems, personnel management and anti-corruption measures [4 q. 2023].
4. Strengthening the selection process of independent members of supervisory boards and boards of the largest state-owned enterprises [4 q. 2023].
5. Bringing legislation into compliance with the requirements of the Law of Ukraine "On Administrative Proceedings" [3 q. 2023]
Rule of law
1. Completion of selection [1 sq. 2023] and appointment [2 sq. 2023] of the new head of the National Anti-Corruption Bureau of Ukraine (NABU).
2. Restoration of the High Council of Justice and the High Qualification Commission of Judges (HCJC) based on the ongoing work of the Ethics Council and the Selection Commission [3 q. 2023].
3. Development and adoption of a comprehensive strategic plan for the reform of the entire law enforcement sector as part of the security environment of Ukraine [3 q. 2023].
4. Improving the selection of judges: (a) efforts to streamline the selection stages and change their sequence; (b) reviewing the duration of the mandatory training period for judges; (c) approval and publication by the updated VKKS of the regulations on the selection of judges, including clear evaluation criteria and scoring methodology [2 q./3 q. 2023]; launch of the procedure for the selection of judges based on the improved system [4 q. 2023].
5. Improving the legal framework for combating money laundering and countering terrorist financing by developing appropriate secondary legislation and achieving progress in the development of institutional capacity related to beneficial ownership [3 q. 2023].
6. Adoption and start of implementation of relevant legislation aimed at criminalizing large-scale smuggling of all goods, which provides for effective imprisonment for every damage to the state budget above a certain threshold [4 sq. 2023].
7. Further strengthening of the capacity of the Specialized Anti-Corruption Prosecutor's Office (SAP), including by implementing a performance evaluation system, improving the selection of its leadership and other measures aimed at ensuring its accountability and independence [4 q. 2023].
Energy
1. Strengthen the legal and administrative framework to ensure the use of high energy efficiency standards in order to apply international best practices in the field of energy efficiency and closed-loop economy for newly constructed and reconstructed buildings [2 sq. 2023].
2. Improve the operation of the gas system due to:
election of the supervisory board of "Naftogaz" [1 q. 2023];
taking measures necessary for the certification of the gas storage operator in accordance with Regulation (EC) No. 715/2009 [1 q. 2023];
the beginning of the corporate restructuring of the Gas Transmission System Operator in accordance with the agreed target model [2 q. 2023].
3. Preparation of the Action Plan for the restoration of the energy infrastructure of Ukraine, destroyed as a result of the military aggression of the Russian Federation, with reference to the goals of the green transition and better restoration, where possible [2 q. 2023].
4. To achieve progress in the implementation of the roadmap for the integration of the electricity market after synchronization [4 q. 2023].
