E.U. To Offer Ukraine $15 Billion Aid Package

Aid – diplomacy through softer means than war.


The European Union is ready to offer a $15-billion aid package to Ukraine over the next two years, a move that could give the West more leverage in the economically-strapped country as it matches Russia’s own, original aid offer.

The president of the European Commission, José Manuel Barroso, said Wednesday that the offer includes 1.6 billion euros ($2.2 billion) in loans and 1.4 billion euros in grants, as well as 3 billion euro in credit from the European Investment Bank. That sum is in addition to a $1-billion loan guarantee pledged to Ukraine by Secretary of State John Kerry Tuesday, reports the New York Times.

Ukraine’s interim government has said it will need $35 billion in international assistance over the next two years.

Mass protests began in Ukraine in November last year, after now-deposed President Viktor Yanukovych turned to the Kremlin for financial aid. The International Monetary Fund…

View original post 100 more words


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s