West approves $3.2 billion package for Ukraine

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April 14, 2014, 5:45 p.m. | Ukraine — by Ivan Verstyuk

: US Treasury Secretary Jacob Lew(L) shakes hands with Ukrainian Finance Minister Oleksandr Shlapak following signing ceremonies April 14, 2014 at the Treasury Department in Washington, DC. The United States on Monday signed a $1 billion USD loan guarantee for Ukraine, part of an aid package aimed at supporting the country's economic recovery. AFP PHOTO / Kaern BLEIER

Ivan Verstyuk

Ivan Verstyuk is the Kyiv Post's associate business editor. Previously he worked as a senior editor for the Ukrainian office of RBC, a business news agency that covers Eastern Europe. He has contributed to the Columbia Journalism Review as well as several local publications.

The European Union’s Foreign Affairs Council has approved a mid-term loan of $1.38 billion and an additional $848 million in micro-financial aid for Ukraine, while the U.S. signed an agreement with the Ukrainian government on providing another $1 billion.

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