Ukraine in Arabic | EU finance ministers agree on EUR 1.8 billion credit for Ukraine
Kiev/Ukraine in Arabic/ The European Union will provide an additional financial lifeline for Kyiv as the crisis escalates - says Ukraine Today.
European Union finance ministers have agreed to provide Ukraine with EUR 1.8 billion in credit to help the country avoid bankruptcy.
Ahead of the decision, the Dutch finance minister said the recent escalation of violence in Ukraine had made the need to discuss additional financial aid more urgent.
Jeroen Dijsselbloem, Dutch Finance Minister: "I think we need to support Ukraine in any case, but of course the situation and the escalation makes it more urgent, so today we will talk about what is needed and how to finance this support for the Ukraine."
The new EU loan comes on top of the EUR 1.4 billion that Brussels handed over last year.
Ukraine, fighting a costly war against Russian-backed militants, is relying on alifeline from the International Monetary Fund programme to avoid default, but some economists say it is facing a USD 15 billion shortfall in funding.
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