EU signs deal for -€1bn assistance to Ukraine

EU Commission Vice President Siim Kallas Mondaysigned the Memorandum of Understanding on the new 1 billion euro Macro-Financial Assistance (MFA) loan programme to Ukraine."This assistance, combined with the previously decided 610 million euro MFAprogramme, will provide much-needed help to the Ukrainian Government for itsfinancing needs. It is a concrete sign of the EU's support to the Ukrainian people ina difficult situation, along with the other long-term financial assistance," said Kallasin a statement.The new 1 billion euro programme will be implemented in parallel with theprogramme of 610 million euro, which was approved already in 2010 by the EU but was not released because of the non-compliance with the necessary conditions bythe then authorities in Kyiv. The disbursement of the assistance will be conditional on specific economic policyconditions outlined in the MoU and on approval by the IMF, he noted.