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ADDENDUM 7907/14 COM(2014) 182 FINAL SWD (2014) 112 FINAL EXPLANATORY MEMORANDUM ON EUROPEAN COMMUNITY DOCUMENTS EX-ANTE EVALUATION STATEMENT ON EU MACRO-FINANCIAL ASSISTANCE TO UKRAINE ACCOMPANYING THE DOCUMENT PROPOSAL FOR A DECISION OF THE COUNCIL PROVIDING MACRO-FINANCIAL ASSISTANCE TO UKRAINE EM submitted on 24 March 2014 1. The Commission have attached a Staff Working Document to the proposal for a Decision of the Council providing macro-financial assistance (MFA) to Ukraine. 2. The additional document sets out in more detail the Commission’s conclusions regarding Ukraine’s macroeconomic situation, reform priorities, financial needs and the potential sources of assistance under the international package. These sources include the International Monetary Fund (IMF), World Bank, the European Union through the use of macro-financial assistance (MFA), the European Neighbourhood Instrument (ENI) and wider budgetary support including technical assistance, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). The United States has also pledged support of $1 billion in loan guarantees. 3. MFA operations are based on a number of principles defined by the Council, the so called ‘Genval Criteria’ which were last stated in the conclusions of the Economic and Financial Affairs Council (ECOFIN) of 8 October 2002. These stipulate the geographical scope, preconditions and principal modalities for implementation of MFA. 4. The Staff Working Document confirms the eligibility of Ukraine under these principles. HM Treasury 25 March 2014