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Ukraine gets $680m EU loan, more to come

The wired money is part of a wider EU package allocated to help boost Ukraine’s economy

Published: Updated:

The European Union says it has wired 500 million euros ($680 million) to Ukraine to help stabilize the country and shore up its ailing economy.

EU Economics Commissioner Olli Rehn said Tuesday the loan is "a further concrete sign of European solidarity."

The money from the 28-nation bloc is part of a wider EU package aimed at helping Ukraine to reform its economy to boost growth and jobs.

The EU sent Ukraine $135m last month and has another $1.35bn lined up for it, provided Ukraine meets agreed milestones on economic and financial reforms.

The EU and Ukraine are set to sign a wide-ranging free trade agreement next week.

In total, the EU has pledged assistance worth $15bn for Ukraine over the coming years.