Don’t miss the latest developments in business and finance.

EU gives $615 mm loan to Ukraine

Image
IANS Brussels
Last Updated : Dec 04 2014 | 4:11 AM IST

The European Commission (EC) has disbursed 500 million euros (615 million dollars) to Ukraine, according to an official statement posted on the commission's website.

This is the second and final loan tranche of the EU's 1 billion euros Macro-Financial Assistance(MFA) programme for Ukraine approved earlier this year, Xinhua reported.

The purpose of the programme is to support Ukraine financially while encouraging its structural reforms, according to the statement.

The funding for Wednesday's disbursement was raised by the European Commission on financial markets Nov 26, by increasing an already existing 15-year-bond.

For the EU, this tap marked a new historical record-low yield of 1.363 percent. The funds were on-lent to Ukraine on the same terms, offering a long maturity at an attractive interest rate.

Also Read

First Published: Dec 04 2014 | 4:02 AM IST

Next Story