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EU approves 1.8-bln-euro assistance proposal for Ukraine

Xinhua, April 15, 2015 Adjust font size:

The European Commission(EC) proposal for a new 1.8-billion-euro (about 1.9 billion U.S. dollars) macro-financial assistance (MFA) to Ukraine has been adopted, the EC announced Wednesday after the official document was signed.

This followed the European Parliament's positive vote and the Council of the European Union's agreement on the new proposal.

For the next step, the European Union and Ukraine have to agree on a memorandum of understanding, which the EC hoped would happen in the coming weeks, in order to allow for the disbursement of a first tranche of 600 million euros before the summer break.

The new MFA, which the EC proposed on Jan. 8, 2015, would also be the third MFA program for Ukraine since 2010, said the EC. Endit