World

EU to give one billion euro loan to Ukraine

July 01, 2022

BRUSSELS — The European Commission Friday proposed a new one billion euro (USD 1.04 billion) long-term loan for Ukraine as the first part financial assistance package of up to 9 billion euro (USD 9.3 billion) announced on 18 May.

Under the proposal, the funds will be made available to Ukraine in the form of long-term loans on favourable terms, it said in a press release.

The loans will support Ukraine's macroeconomic stability and overall resilience in the context of Russia's military invasion and the ensuing economic challenges, it noted.

As soon as the European Parliament and the EU Council of Ministers approve today's proposal and the Memorandum of Understanding and Loan Agreement with the Ukrainian authorities are signed, the Commission will swiftly make available the amount of 1 billion euro to Ukraine. — Agencies


July 01, 2022
80 views
HIGHLIGHTS
World
9 hours ago

Australia vows new plan to stop extinction crisis

World
11 hours ago

Wig and mustache for Gandhi 'demon’ statue after India outrage

World
13 hours ago

At least 15 killed in latest Ecuador prison riot