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Council of EU to allocate 1.2 bn Euros to assist Ukraine in combating Covid-19 consequences

Source : 112 Ukraine

In general, the EU authority will redirect three billion Euros among ten neighboring countries and the states that enjoy the official prospects of EU membership
21:40, 5 May 2020

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The Council of the European Union made the decision to provide Ukraine with 1.2 billion Euros for overcoming economic and social consequences of coronavirus. Yevropeiska Pravda outlet reported that on May 5. 

In general, the EU authority will redirect three billion Euros among ten neighboring countries and the states that enjoy the official prospects of EU membership.

The allocated funds are supposed to help in improving the macroeconomic stability and assign resources for citizens' protection. The costs will be available within the period of 12 months, supplied in two loans. The countries will have to repay the loan within the period of maximum 15 years.

Related: Ukraine to get loan from IMF within three weeks after passing law on banking activity, - MP

The money will go to Ukraine (1.2 billion Euros), Georgia (150 mln), Moldova (100 mln), Bosnia and Hercegovina (250 mln), Albania (180 mln), Northern Macedonia (160 mln), Kosovo (100 mln), Montenegro (60 mln), Jordan (200 mln) and Tunisia (600 mln Euros). 

Earlier, the National Bank of Ukraine claimed that in the second quarter of 2020, Ukraine can count on $2 billion tranche from the International Monetary Fund (IMF).

Related: Ukrainian govt to launch program of loans for small, medium businesses, - PM

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