EUROPEAN COUNCIL GRANTING ANOTHER LOAN TO UKRAINE

A session of the European Parliament, legislative organ of European Union, confirmed the decision of the European Committee to grant a loan to Ukraine to support macroeconomic stability. The loan totaling $225 million will be granted in a number of installments and has to be paid off in ten years. It is stipulated that some part of the money will be used to cover the budget deficit. At the same time Europarliament deputies demand Ukraine shut down the Chornobil power station by 2000, as a condition for future loans by the IMF and EBRD.