Europe to provide Ukraine with 610 million euros to support macro-financial stability

Ukraine is holding talks with the European Commission for the latter to provide 610 million euros to support macro-financial stability in the country.

"We expect these funds to be allocated in late 2009/early 2010," Vice Prime Minister Hryhoriy Nemyria said today during a press conference.

He clarified that these funds will come in two tranches. "The allocation of 110 million euros has already been approved and the only condition is that Ukraine continues to cooperate with the IMF. The second tranche - 500 million euros must be approved by the European Parliament," Hryhoriy Nemyria announced.