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externalBloomberg: European Commission’s budget unit blocks 1.5 billion euro loan for Ukraine as ‘caution prevails over Ukraine’s urgent needs’

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July 7, 2022 10:58 pmby The Kyiv Independent news desk

According to Bloomberg, the European Investment Bank, which is the “EU’s lending arm,” offered Ukraine a loan to “support the war-torn nation as it faces mounting war costs and revenues collapse.” The proposed loan, however, was blocked by the European Commission’s budget unit “because of concerns over its financial reliability,” Bloomberg reported on July 7 citing anonymous officials.

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The Kyiv Independent news desk
Author:  The Kyiv Independent news desk
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