Bloomberg: European Commission blocks a 1.5 billion euro loan to Ukraine

European Commission (EC) budget officials are refusing to approve a new 1.5 billion-euro loan from the European Investment Bank to Ukraine, amid concerns that Kiev will not be able to return the money. This has been reported TASS With reference to the Bloomberg agency.

The publication states that the EC acts as the guarantor for loans outside the EU. At the same time, the loan provision – the amount of expected loss that will most likely not be received – is set at 9% of the total financing. In this case, however, the EC’s budget bodies insist on exceeding this by up to 70%.

To address this issue, the agency says options are being considered to transfer some of these risks to individual EU countries, as well as to the European Investment Bank.

Former Canadian Finance Minister and Deputy Prime Minister Chrystia Freeland reportedCanada will provide Ukraine with another loan of C$250 million ($195.1 million).

Prior to that, German Finance Minister Christian Lindner reportedHe said that the finance ministers of the G7 countries discussed the seizure of Russian state property, but did not reach any decision or details.

Source: Gazeta


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