European Council defines terms on which Ukraine will receive EU's macro-financial assistance

BRUSSELS. Feb 1 (Interfax) - The European Union adopted conclusions in Brussels on Thursday on revising the Multiannual Financial Framework for 2021-2027 to ensure the provision of 50 billion euros in financial support to Ukraine, defining the terms and conditions on which this funding will be made available to Kiev.

Based on the European Commission's annual report on implementing the Ukraine Facility, the European Council will hold a debate on its implementation each year with a view to providing guidance, it said.

"If needed, in two years the European Council will invite the Commission to make a proposal for review in the context of the new MFF [Multiannual Financial Framework]," it said.

"A precondition for the support for Ukraine under the facility shall be that Ukraine continues to uphold and respect effective democratic mechanisms, including a multi-party parliamentary system, and the rule of law, and to guarantee respect for human rights, including the rights of persons belonging to minorities," it said.

In implementing the Facility, the European Commission and Ukraine "shall take all the appropriate measures to protect the financial interests of the union, in particular regarding the prevention, detection and correction of fraud, corruption, conflicts of interests and irregularities," it said.