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EU-Ukraine: Commission proposes further €1.8 billion in macro-financial assistance

EU News 4/2015

Riga, 08 January 2015

The European Commission is ready to further assist Ukraine, which has been hit hard by a deep recession. The conflict in the East of the country has had a heavy toll on the economy. Today the Commission has proposed new macro-financial assistance (MFA) to Ukraine of up to €1.8 billion in medium-term loans. The new MFA programme, which is to be approved by the European Parliament and the Council of Ministers of the EU, is intended to assist Ukraine economically and financially with the critical challenges the country is facing, such as a weak balance of payments and fiscal situation. The intention is also to help the new reform-orientated government strengthen the country and deal with economic and political challenges. The macro-financial assistance proposed today will be linked to certain reform actions.

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