EU Approves Additional €1.8Bn In Financial Aid For Ukraine – 16 April 2015

RT logoThe European Union has approved €1.8 billion in funds for Ukraine with the first €600 million provided to the struggling economy by the summer, the EU Commission has said.

The decision to grant Ukraine a bailout has been signed by the President of the European Parliament Martin Schulz and the Parliamentary State Secretary for the European Affairs of Latvia Zaandam Kalnina-Lukashevich, according to the EU Commission press release, published Wednesday. The move follows the European Parliament’s positive vote and Council agreement on the proposal.

The EU and Ukraine now have to agree on a Memorandum of Understanding while the Commission hopes to conclude the negotiations in the coming weeks to allow the release of the first tranche of €600 million before the summer.

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