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Ukrainian parliament ratifies loan deal with EU

English.news.cn   2014-03-04 21:05:30

KIEV, March 4 (Xinhua) -- The Ukrainian parliament ratified a deal Tuesday in which the European Union (EU) will provide Kiev with a 610-million-euro (around 840 million U.S. dollars) loan.

The measure, which is aimed at stabilizing the country's financial system, was supported by 280 lawmakers in the 450-seat assembly.

The loan would be allocated via four tranches and has to be repaid in 15 years.

According to the deal, Ukraine would be able to draw the first tranche -- about 100 million euros (around 137 million dollars)-- immediately.

In return, Kiev is obliged to carry out reforms in energy, trade and financial sectors.

Editor: Yang Yi
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