Ukraine To Receive €1.8Bn From EU – 28 January 2015

RT logoEuropean Union finance ministers have agreed to loan Ukraine €1.8 billon to stave off a default. Some governments pressed for €2.6 billion in medium-term loans for 2015 and 2016.

“The European Commission put €1.8 billion on the table. Some wanted us to do more,” French Finance Minister, Michel Sapin, told reporters Tuesday. “What is urgent today is to start implementing this package … because Ukraine needs it so the government will not be faced with an unbearable situation.”

In an interview for the French newspaper Le Monde on Monday, the head of the IMF Christine Lagarde said the fund would provide financial assistance to Ukraine only when the situation in the country is stabilized. According to Lagarde, when the IMF gave financial support in the spring of 2014, experts expected the conflict on the East of the country to end by the winter.

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