Article 4
1. The borrowing and the lending operations referred to in this Decision shall be carried out in euro using the same value date and shall not involve the Union in the transformation of maturities, in any exchange or interest rate risks or in any other commercial risk. 2. The Commission shall take the necessary steps, if Ukraine so requests, to ensure that an early repayment clause is included in the loan’s terms and conditions and that it is matched by a corresponding clause in the terms and conditions of the borrowing operations. 3. At the request of Ukraine, and where circumstances permit an improvement of the interest rate of the loan, the Commission may refinance all or part of its initial borrowings or restructure the corresponding financial conditions. Refinancing or restructuring operations shall be carried out in accordance with the conditions set out in paragraph 1 and shall not have the effect of extending the average maturity of the borrowing concerned or increasing the amount of capital outstanding at the date of the refinancing or restructuring. 4. All costs incurred by the Union which are related to the borrowing and lending operations under this Decision shall be borne by Ukraine. 5. The European Parliament and the Economic and Financial Committee shall be kept informed of developments in the operations referred to in paragraphs 2 and 3.