01:26 GMT +315 December 2019
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    A man stands next to an advertising placard showing British pounds, US dollars and Ukrainian hryvnia banknotes in the Ukrainian capital Kiev

    Ukraine, Turkey Sign Agreement on $50Mln Loan to Kiev

    © AFP 2019 / SERGEI SUPINSKY
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    Ukrainian Finance Minister Natalie Jaresko and Turkish Economy Minister Mustafa Elitas signed an agreement Monday granting a $50-million loan to Kiev.

    KIEV (Sputnik) — The agreement was signed in the Ukrainian capital, a RIA Novosti correspondent reported. A corresponding decree was adopted by the Ukrainian government on Thursday. The funds will be directed to the general fund of the state budget to finance general expenditures.

    The Finance Ministry of Ukraine on Friday said that Kiev could receive these funds in the first quarter of the year or the beginning of the second quarter of 2016.

    Ukraine's economy has been hit hard by the conflict between government forces and independence forces in the southeast of the country. The latter have refused to recognize the pro-Western government in Kiev that came to power in 2014 in a coup.

    Kiev, Ankara to Resume Talks on Free Trade Zone

    "Prime Ministers of Ukraine and Turkey have agreed to resume negotiations on the establishment of an FTA between the two countries," the Cabinet said via Twitter.

    The talks became deadlocked in 2013, when the countries were close to the final stage of the FTA negotiations.

    In recent years, Turkey has become Ukraine's second largest trade partner in the Black Sea basin after Russia, which banned organized tourist groups from traveling to the republic, as well as the importation of certain food products from Turkey, following the November downing a Russian Su-24 aircraft by Turkey over Syria.

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    loan, free trade, Mustafa Elitas, Natalie Jaresko, Turkey, Ukraine
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