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EU ministers back $5 billion loan to Ukraine, discuss long-term options

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EU finance ministers back next $5 billion loan to Ukraine By Reuters

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Economy 15 minutes ago (Sep 09, 2022 14:20)

© Reuters. FILE PHOTO: European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach/

PRAGUE (Reuters) – European Union finance ministers on Friday backed a 5 billion euro ($5 billion) loan for Ukraine to help its keep schools, hospitals and other state operations running as it fights against Russia’s invasion, the Czech finance ministry said.

The loan, to be backed by guarantees of EU member states, is part of an overall 9 billion euro package announced in May. The first 1 billion euros was fully sent in early August.

Czech Finance Minister Zbynek Stanjura, who was hosting EU finance ministers in Prague on Friday, said in a statement that upcoming meetings would decide how the remaining 3 billion euros in the package could be split into loans or grants.

($1 = 0.9954 euros)

EU finance ministers back next $5 billion loan to Ukraine

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