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EU postpones release of 600-mln-euro aid for Ukraine

Xinhua, October 1, 2016 Adjust font size:

The European Union (EU) has postponed the release of a loan worth 600 million euros (671 million U.S. dollars) to Kiev, the Ukrainian Finance Ministry said on Friday.

"The third tranche of the EU's macro-financial assistance of 600 million euros has been postponed. We hope to receive it in the beginning of the next year," Yuriy Butsa, Ukraine's Deputy Finance Minister, told reporters.

The disbursement was delayed as Ukraine has not adopted in time several key laws, which was required by the EU, Butsa said, adding that Kiev still hopes to get the second tranche of the assistance by the end of the current year.

Ukraine was due to obtain a total of 1.8 billion euros in three tranches worth 600 million euros each by the end of 2016 under the EU Macro-Financial Assistance program.

However, since the launch of the program in July 2015, Kiev has received only the first installment. Endit