World Economy

No Extra Aid for Ukraine

No Extra Aid for UkraineNo Extra Aid for Ukraine

The European Union will provide no extra financial support to Ukraine on top of €1.8b ($1.96b) in loans already pledged for this year, a source in the EU’s foreign policy service said, Tass reported. “The union has no extra budget funds on top of €1.8b in aid which has already been allocated to Ukraine for this year,” the source said, adding that the 28-nation bloc hoped to sign in May a memorandum of understanding with Ukraine’s authorities to transfer the money. The document outlines the terms and conditions Kiev needs to fulfill to get the EU’s third package of loans, scheduled to be disbursed in three tranches. The first tranche of €600m could be disbursed in late June or early July.