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    Ukraine Gets Over $620 Mln in Financial Aid From EU: Ministry

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    Ukraine has received 500 million euros transferred by the European Union in the second tranche of financial assistance, the country's Finance Ministry announced.

    MOSCOW, December 4 (Sputnik) – Ukraine received 500 million euros ($622 million at the current exchange rate) in the second installment of financial assistance from the European Union Thursday, the country’s Finance Ministry said.

    “As part of financial cooperation between Ukraine and the European Union, Ukraine received a loan of $500 million euros in the second tranche of financial assistance from the EU on December 3,” the ministry said in a statement.

    In November, the European Commission said it had transferred 260 million euros ($323 million) to Ukraine in addition to previously allocated 600 million euros under the EU Macro-Financial Assistance (MFA) programs.

    In March, the European Commission proposed a range of short and mid-term measures to raise funds from international financial institutions to stabilize economic and financial situation in Ukraine. The Commission stated that the total aid package could amount to at least 11 billion euros in the coming years.

    As a result of the ongoing political crisis in the country, Ukraine has found itself on the verge of a default. Kiev authorities are trying to rescue the country's economy with international loans.

    In October, the World Bank issued a report with a negative outlook for Ukrainian economy, saying the conflict in the industrialized southeastern regions would delay the country’s economic recovery.

     

    Related:

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    European Commission Issues 500 Mln Euros to Support Ukraine: Statement
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    financial aid, European Commission, Ukrainian Finance Ministry, Ukraine
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