KYIV, Dec 1 – The European Commission will not transfer the third EUR 600 million tranche of the current Macro-Financial Assistance (MFA) program to Ukraine, approved in 2015, but is ready to send proposals on a new bailout program early in 2018 after evaluation of reforms in the country.

"As regards the third and final tranche of MFA, Ukraine has fulfilled a large share of the policy commitments agreed with the EU. This includes important measures to increase transparency in public finance management; to launch public administration, judicial and governance reform; to advance ongoing reforms of the energy sectors, improve the business environment and reinforce social safety nets. Four of the measures linked to the third and final tranche of this MFA currently remain outstanding.