Kyiv and Washington are negotiating lending terms for a $7.8B loan for Ukraine.

Ukraine and the US are working on a list of conditions and reforms, the fulfillment of which will allow Kyiv to receive a $7.8B loan. US legislation that will provide Ukraine with almost $61B in financing has already come into effect, and money for military needs has started flowing.

However, the allocation of $7.8B for state budget support requires all procedures to be completed by the end of June, including the conditions for granting the loan. The reform proposals, which should be included in the lending terms, have already been provided to the Ukrainian side by the US. The list echoes the requirements sent in September last year, and some of them have already been implemented within the framework of cooperation with the IMF, the EU, and the US.

Currently, the US proposes reform of the Accounting Chamber, which oversees the audit of the use of public funds as well as reforms in Ukraine’s customs, which will strengthen the powers of the National Anti-Corruption Bureau and make operational changes in governmental agencies including the Economic Security Bureau and the Asset Recovery and Management Agency. Negotiations between the parties are ongoing.