European Parliament approves provision of EUR 500mn loan to Ukraine.

By bne IntelliNews May 19, 2010
The European Parliament has approved provisions of a loan of up to EUR 500mn to Ukraine by the European Union. The European Parliament approved the relevant decision on Tuesday. The loan is intended to help Ukraine through the financial crisis. The loan is due to be repaid within 15 years. It will help Ukraine to finance its balance-of-payments deficit and meet its budgetary needs. As earlier reported, the European Commission proposed in late 2009 that the Council of the European Union provide a loan (microfinance assistance) of EUR 500mn to Ukraine.

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