EU approves new €1.2B aid package to Ukraine

The European Parliament has given a green light to the European Council resolution to provide Ukraine with a new financial aid package in the amount of 1.2 billion euros, as announced at a legislature session in Strasbourg on Tuesday, Report informs, citing foreign media.

"The Union will provide macro-financial assistance in the amount of no more than €1.2 billion, which will be available to support macroeconomic stabilization and a program of fundamental reforms in Ukraine," the document reads.

The aid package will be realized in the form of loans aimed at covering Ukraine's payments balance and will be delivered in two equal portions of 600 million euros within a 12-month time span.