The Azerbaijan State News Agency

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EUROPEAN PARLIAMENT APPROVES 500 MILLION EURO LOAN TO UKRAINE

19.05.2010 [23:24]
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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.