EU to provide 1.8bln euro in loans to Ukraine| MENAFN.COM

Thursday, 18 August 2022 05:44 GMT

EU to provide 1.8bln euro in loans to Ukraine

(MENAFN- Kuwait News Agency (KUNA)) The EU Tuesday adopted a decision providing a maximum of 1.8 billion euro in further macro-financial assistance to Ukraine.

The aim is to support economic stabilisation of the country and a substantive reform agenda, noted an EU statement.

The assistance will be available for a period of two and a half years. It will be provided in the form of loans, to be disbursed in three installments. The loans will have a maximum maturity of 15 years.

The assistance will be subject to a memorandum of understanding (MOU), to be agreed between the European Commission and Ukraine.

The MOU will lay down clearly defined economic policy and financial conditions, focusing on structural reforms and sound public finances, said the statement.

The 1.8 billion euro of loans will be additional to 1.61 billion euro of macro-financial assistance already decided by the EU in 2010 and in 2014. Ukraine has requested further assistance in view of its worsening economic situation.

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