You are here: Home » PTI Stories » National » News
Business Standard

EU gives Ukraine 600 mn euros to help steady economy

AFP  |  Brussels 

The agreed today to give Ukraine 600 million euros in loans as a deadly conflict with pro-Russian rebels continues to sap efforts to stabilise its economy, a statement said.

The payment brings total macro-financial assistance (MFA) for Ukraine to 2.8 billion euros (USD 3.0 billion) since 2014, when Kiev broke decisively with Soviet-era master to focus on building ties with the European Union.

The European Commission said the MFA programme has helped Ukraine raise international and supported EU-backed reform efforts to root out corruption and restructure the economy.

Ukraine had largely kept its commitments, the Commission said.

"Ukraine has done a remarkable job of stabilising and reforming its economy, despite the armed conflict unfolding on its soil," Commission Vice President Valdis Dombrovskis said in the statement.

"With today's disbursement ... The reaffirms its long-standing commitment to support Ukraine in its efforts to maintain stability and ensure economic recovery in the country.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 16 2017. 22:42 IST