EU finance ministers endorse upcoming $5 billion loan to Ukraine

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European Union finance ministers on Friday backed a 5 billion euro ($5 billion) loan to help Ukraine keep schools, hospitals and other state operations running in its fight against the Russian invasion, reported the Czech Ministry of Finance.

The loan, backed by guarantees from EU member states, is part of a global €9 billion package announced in May. The first 1,000 million euros were sent in full at the beginning of August.

Czech Economy Minister Zbynek Stanjura, who was hosting EU finance ministers in Prague on Friday, said in a statement that upcoming meetings would decide how to divide the remaining 3 billion euros in the package into loans or grants.

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