11.06.2015. Energy, Expert commentary: EU’s macro-financial assistance to Ukraine might be in question, DiXi Group

The EU and Ukraine have signed a “Memorandum of Understanding” according to which the EU will give Ukraine a macro-financial assistance in the sum of 1.8 billion euros but only if specific reforms and steps are made. One of such steps is a publication of the report “Transparency in the Extractive Industries”, says President of DiXi Group Olena Pavlenko.

“According to the commitments made by Ukraine, this report has to be published in October 2015. It should contain comprehensive information on the state of the mining industry in the field of oil and gas deposits, licensees, as well as payments made to the budgets of the various levels“, said the expert.

According to Olena Pavlenko, the publication of this report is supported by the NGOs as well as mining companies and international donors – all who want to understand the actual situation with the production. In order for this report to be published, Parliament should pass a law that would make mandatory disclosure of payments by companies and government. Today, such information can only be given voluntarily.

“This draft law, prepared by the public, the Ministry of Energy and companies, stood before the Parliament the last week. But the turn never came to it. On Thursday and Friday the Parliament session finished at 18:00″, said the expert.

DiXi Group President believes, if the draft law will continue to be ignored, there is a risk that the law will be adopted at the next session of Parliament in September. That will make it impossible to prepare a report before October – because after the information will be made public one will need a time to analyze it. Thus, at least one of the requirements of the Memorandum of Understanding might not be fulfilled.

Source: DiXi Group (article available only in Ukrainian)