REUTERS EU ambassadors on Tuesday, May 5, endorsed a European Commission proposal to provide macro-financial assistance to Ukraine amounting to EUR 1.2 billion to help the country cope with the economic fallout of the COVID-19 pandemic. The funds will be available for 12 months and disbursed in two installments. The loans will have a maximum average maturity of 15 years. Read alsoUkraine&#39;s Finance Ministry expects two IMF disbursements worth US$3.5 bln by end of 2020 The text will need to be adopted by the European Parliament and the Council before it can enter into force. Besides Ukraine, the EU plans to provide financial assistance to Albania (EUR 180 million), Bosnia-Herzegovina (EUR 250 million), Georgia (EUR 150 million), Jordan (EUR 200 million), Kosovo (EUR 100 million), Moldova (EUR 100 million), Montenegro (EUR 60 million), Republic of North Macedonia (EUR 160 million), and Tunisia (EUR 600 million). As UNIAN reported earlier, the European Commission in April 2020 proposed to provide EUR 1.2 billion to Ukraine amid the COVID-19 pandemic.