Photo from Wikipedia
The European Union has approved a resolution on aid for Ukraine, unlocking a much-needed EUR 1.8 billion in funds for the economically struggling country.
The document was signed by the President of the European Parliament Martin Schulz, and on the part of the European Council - by Parliamentary State Secretary for EU Affairs of Latvia Zanda Kalniņa-Lukaševica, according to a statement released by the European Commission on Wednesday.
"The Commission will provide Ukraine with EUR 1.8 billion, to be paid in three tranches, and hopes that Ukraine will receive the first tranche [of EUR 600 million] in early summer," the statement reads.
As UNIAN reported earlier, on March 31, at a plenary session in Brussels, the overwhelming majority of European Parliament members voted for providing Ukraine with EUR 1.8 billion in macro-financial aid.
The provided funds aim to stabilize Ukrainian economy and assist the country in carrying out reforms, and improve its balance of payments, as stipulated by Kyiv’s agreement with the International Monetary Fund.