EU to supply 1-bln-euro loan to Ukraine

Source:Xinhua Published: 2014-4-29 10:34:56

The European Commission agreed on Monday to supply a new tranch of 1-billion-euro (about 1.38 billion US dollars) loan to Ukraine, intending to help Ukraine reduce short-term balance of payments and fiscal vulnerabilities.

The new Macro-Financial Assistance (MFA) is part of the package to support Ukraine and was approved by the EU Council of Ministers on April 14.

The disbursement of the assistance will be conditional on specific economic policy conditions which focus on public finance management and anti-corruption.

"This assistance, combined with the previously decided 610 million euros MFA program, will provide much-needed help to the Ukrainian government for its financing needs," said European Commission Vice-President Siim Kallas.

"It is a concrete sign of the EU's support to the Ukrainian people in a difficult situation, along with the other long-term financial assistance," added Kallas.

Posted in: Europe

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