Lawmakers attend a parliament session in Kiev, Ukraine December 21, 2017. REUTERS/Valentyn Ogirenko

KIEV (Reuters) - Ukraine’s parliament on Thursday approved in the first reading a draft law to create an anti-corruption court, a step towards fulfilling requirements for a long-delayed loan tranche from the International Monetary Fund.

Reform campaigners and Ukraine’s Western backers say establishing an independent court to handle corruption cases is essential for the ex-Soviet republic’s efforts to cement the rule of law and reduce the power of vested interests.

President Petro Poroshenko submitted the bill to parliament in December, but Ukraine’s foreign backers have expressed concern that the legislation is not in line with recommendations from the Venice Commission, a rights watchdog.

The Ukrainian authorities have said the bill will be amended before its second and final reading to ensure it is fully in line with international norms.

“We need to make sure this court works effectively,” the head of the People’s Front faction, Makysym Burbak, said ahead of the vote in parliament.

“Between the first and second readings we will take into account all recommendations of the Venice Commission.”

As well as creating the court, Ukraine must also stick to gas price commitments and implement sustainable pension reform in order to qualify for the next loan tranche of around $2 billion from the IMF.