EUROPEAN PARLIAMENT APPROVES 500 MILLION EURO LOAN TO UKRAINE
Baku, May 19 (AZERTAC). Ukraine will be eligible for an EU loan of up to 500 million euro to help it through the financial crisis, following a vote by MEPs on May 18 2010, a European Parliament media statement said.
A maximum of 500 million euro EU loan will be available to Ukraine for 30 months, after MEPs approved - by 604 votes to 37, with 16 abstentions - a compromise reached between the EU institutions. The loan, due to be repaid within 15 years, would help Kyiv to finance its balance-of-payments deficit and meet its budgetary needs.
This money will supplement IMF support and the 110 million euro in EU macro-financial assistance already granted in 2002.
The European Parliament insisted that the lending conditions for the assistance must ensure better efficiency, transparency and accountability, the statement said.
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