EU Council okays proposal to provide loans to Ukraine for 1.2B euros

The EU Council will provide emergency macro-financial assistance for 1.2 billion euros in the form of loans to strengthen stability in Ukraine, Report informs citing the statement of the EU Council.

Operational support to Ukraine will be provided if the situation in the country reaches a phase of acute crisis.

The EU has accelerated economic assistance to Ukraine as the current geopolitical tensions are having a detrimental effect on Ukraine’s economic and financial stability.

Constant security threats have already caused significant capital outflows. Ukraine is losing access to international capital markets due to heightened geopolitical uncertainty.