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EU could provide EUR 1 billion loan to Ukraine after IMF's conclusions

01-09-2014 13:04

European Commission President Jose Manual Barroso has said that the European Union (EU) is ready to provide a EUR 1 billion loan to Ukraine after the relevant conclusions of the International Monetary Fund (IMF)."Over one billion more (in loans) could be released in the coming months, and we are ready to consider further financial assistance should additional needs be identified by the IMF during its next review mission," he said at a briefing after a meeting with Ukrainian President Petro Poroshenko in Brussels .

"In March, the European Union agreed on an extraordinary assistance package which the European Commission proposed for Ukraine," he said."More than half a billion euros in loans and 250 million euros in grants have already been mobilised by the European Commission as part of this package," Barroso said.Poroshenko thanked Europe for the financial and economic assistance provided.