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Ukrainian Parliament ratifies 1.8-bln-euro loan deal with EU

Xinhua, June 18, 2015 Adjust font size:

The Ukrainian Parliament ratified a loan deal Thursday, under which Kiev would get 1.8 billion euros (about 2 billion U.S. dollars) from the European Union (EU), the parliament press service said.

The loan, which has to be repaid in 15 years, will be disbursed in three tranches worth 600 million euros each at three-month intervals.

The loan, which is designed to help Ukraine stabilize its finances and boost its foreign exchange reserves, was supported by 310 lawmakers in the 450-seat Parliament, the press service said in a statement.

Since the beginning of 2014, the EU has provided Ukraine with about 3.41 billion euros (3.89 billion dollars) of financial assistance under two separate bailout programs. Endi