On 20 May 2014, Siim Kallas, Vice-President of the EC in charge of Transport and Economic and Monetary Affairs and the Euro (pro term), went to Kyiv on the occasion of the first payment of €100 million of the loan to Ukraine. It was made available from the EU Macro-Financial Assistance programme for the country, which is worth €1.61 billion in total. A further €500 million is expected to follow in the coming weeks, once the necessary legal procedures in Ukraine have been finalised, notably the ratification of the Memorandum of Understanding and of the Loan Agreement by the Ukrainian Parliament, the Verkhovna Rada.