In a clear signal of support to Ukraine, the EU has approved disbursement of €500 million in aid to Ukraine – two weeks before the IMF and the World Bank are to approve similar aid. Valdis Dombrovskis, EU Vice President for Financial Stability said on announcing the move Friday: “Today’s European Commission decision on disbursement comes at a crucial moment when Ukraine and its people face a new aggression from Russia and need to see solidarity from international partners. Such aggressive behavior is not acceptable in today’s Europe.” According to a post on Ukraine’s Finance Ministry website, the aid is to arrive in mid-December, in the form of loans with annual interest rates below 2%.
