EU Council Approves Allocation Of EUR 1 Billion In Macro-Financial Assistance To Ukraine

The Council of the European Union has approved the allocation of the macro-financial assistance worth EUR 1 billion by the EU to Ukraine.

The EU Council has written this on Twitter, Ukrainian News Agency reports.

"@EUCouncil approves €1 billion of new loans to cover its financing needs and support economic stabilisation and a programme of structural reforms," the EU Council twitted.

As Ukrainian News Agency earlier reported, the said macro-financial assistance will be allocated in two tranches during 2.5 years if certain progress in the fight against corruption is made in Ukraine.