EU to lend Ukraine 1 bn euro in new aid package

EU to lend Ukraine 1 bn euro in new aid package

The European Union agreed to lend Ukraine 1 billion euros ($1.17 billion) to encourage the war-torn country's economic stabilisation, the European Commission vice-president in charge of the euro said Friday, France 24 reported.

"This programme will address economic vulnerabilities and support economic stabilisation," European Commission vice-president Valdis Dombrovskis said after signing an agreement with Ukraine's authorities.

According to the deal, the funds will be disbursed in the form of medium- and long-term loans that aim to support "key reforms" in return for Kiev committing to policy changes.

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