European Union to Offer $15 Billion in Aid to Ukraine A top European Union official said Wednesday that the group is prepared to offer an aid package to Ukraine worth as much as $15 billion over the next two years. Jose Manuel Barroso, president of the union’s executive arm, said Wednesday it will include 1.6 billion euros ($2.2 billion) in loans and 1.4 billion euros ($1.9 billion) in grants from the E.U. as well as 3 billion euros ($4.1 billion) in fresh credit from the European Investment Bank. The aide will buttress the $1 billion in loan guarantees that U.S. Secretary of State John Kerry pledged to Ukraine while visiting Kiev on Tuesday. The economic lifeline is expected to help Ukraine’s embattled interim government amid spiraling debts and the threat of rising Russian gas prices. The funds will also help cushion the blow as the International Monetary Fund is expected to demand tough austerity measures as a condition of its own expected aide package.
Posted on: Thu, 06 Mar 2014 23:10:12 +0000
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