EU countries adopt further $5b credit for Ukraine

Council of the European Union

COUNCIL of the European Union, the institution representing the bloc’s 27 member countries, formally adopted on Tuesday,  a further five billion euros  ( five  billion dollars ) in loans for Ukraine.

“The European Union stands by Ukraine. We deliver on our promises and help ensure that the Ukrainian state and its key infrastructure can continue to function despite Russia’s war of aggression.’’

Czech Finance Minister Zbyněk Stanjura said in a press release that the installment was part of an aid package worth nine billion Euros announced by the European Commission in May.

The European Parliament gave its approval to the five billion Euros tranche last week.

A total of one billion euro of the so-called macro-financial assistance (MFA) for Ukraine was disbursed in early August. (dpa/NAN)