17439
EU Agrees $2b Loan to Ukraine
World Economy

EU Agrees $2b Loan to Ukraine

The EU has agreed a €1.8 billion ($2 billion) loan to Ukraine – described as a landmark deal for a non-EU member.
The agreement was signed at an EU summit in Riga, Latvia, with the leaders of six post-Soviet nations, BBC reported.
The loan aims to help cash-strapped Ukraine implement economic reforms, as fighting with pro-Russian rebels in the east has taken a heavy toll.
Ukraine is under pressure from the EU and other international lenders to curb corruption and liberalize the economy.
In Riga, the EU also pledged €200 million in grants to Ukraine, Georgia and Moldova, which have signed association agreements with the 28-nation bloc. The other “Eastern Partnership” countries are Armenia, Azerbaijan and Belarus.
Georgia, Moldova and Ukraine are pushing for full integration with the EU, while the other three countries prefer limited cooperation with the bloc.
In addition, Armenia and Belarus are members of the Russian-led Eurasian Economic Union, seen by some analysts as a rival project to the EU.
The Riga summit declaration criticized Russia for its annexation of Ukraine’s Crimea peninsula last year.
“The acts against Ukraine and the events in Georgia since 2014 have shown that the fundamental principles of sovereignty and territorial integrity within internationally recognized borders cannot be taken for granted in the 21st century on the European continent,” it said.
“The EU remains committed in its support to the territorial integrity, independence and sovereignty of all its partners.”
The declaration recognized “the sovereign right of each partner freely to choose the level of ambition and the goals to which it aspires” in ties with the EU.

 

Short URL : http://goo.gl/WXfRTt

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...

Trending

Googleplus