EU to provide Ukraine with $15 billion aid package

EU to provide Ukraine with $15 billion aid package

The European Union is proposing to provide Ukraine an 11 billion euros ($15 billion) aid package in loans and grants over the coming years, the head of the bloc’s executive arm said Wednesday.

The package will include 1.6 billion euros in loans and 1.4 billion euros in grants from the EU budget and up to 8 billion euros fresh credit from the EU’s financial institutions, the European Investment Bank and the European Bank for Reconstruction and Development.  In addition, another 3.5 billion euros could “potentially” come from the bloc’s assistance to neighboring countries through 2020, the European Commission said.

The package is “designed to assist a committed, inclusive and reforms oriented Government in rebuilding a stable and prosperous future for Ukraine,” Commission President Jose Manuel Barroso said.

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