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EU Pledges €11 Billion In Aid To Ukraine

The European Union will provide Ukraine with an aid package adding up to at least 11 billion euros ($15.1 billion) in loans and grants, European Commission President Jose Manuel Barroso said Wednesday. The EU budget will provide €3 billion in coming years, with another €8 billion from the European Investment Bank and the European Bank for Reconstruction and Development. The support is intended to stabilize the situation in Ukraine, which is under threat of potential military action by Russia. "The most immediate priority for the EU is to contribute to a peaceful solution to the current crisis, in full respect of international law," Barroso said in a statement. "In parallel, the international community should mobilize to help Ukraine stabilize its economic and financial situation. The European Commission is proposing today a package designed to assist a committed, inclusive and reforms-oriented government in rebuilding a stable and prosperous future for Ukraine." The aid package, which ...

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