EU Commission Approves 600-million-euro Loan to Ukraine

Brussels, Ukraine will receive an EU loan worth 600 million euros (640 million dollars) in the coming weeks, European Commission President Jean-Claude Juncker said on Friday, after a meeting in Brussels with Ukrainian Prime Minister Volodymyr Groysman….

Brussels, Ukraine will receive an EU loan worth 600 million euros (640 million dollars) in the coming weeks, European Commission President Jean-Claude Juncker said on Friday, after a meeting in Brussels with Ukrainian Prime Minister Volodymyr Groysman.

Juncker also announced that visa liberalization between the EU and Ukraine is expected to come into force this summer. The measure will allow visa-free travel for citizens of Ukraine to the EU and vice-versa for a period of 90 days, dpa reported.

"Over the last two or three years, Ukraine has been realizing reforms of a greater magnitude than those of the past 20 years," Juncker said after the meeting.

"Ukrainians have the right to see something in return for the reform efforts," Juncker added.

The disbursement of the second tranche of the EU loan had stalled over a Ukrainian ban on wood exports. However a recent draft bill introduced to parliament by the Ukrainian government is designed to lift the ban on the export of wood.

Source: Qatar News Agency