European Parliament approves of up to EUR 500 mln loan to Ukraine

The European Parliament approved of an up to EUR 500 mln loan to Ukraine, the EU parliament press office announced yesterday. The loan will be available for up to 30 months and due to be repaid within 15 years to help Ukraine finance its balance of payments deficit and fill its budget gap. The European Parliament stipulated strict lending terms to ensure efficiency, transparency and accountability; a commission is due to regularly assess progress.