EU offers Ukraine more loans if it makes promised reforms

German Chancellor Angela Merkel, right, and the Prime Minister of Ukraine, Arseniy Yatsenyuk, left, look at Merkel's watch during a joint press conference as part of a meeting at the chancellery in Berlin, Germany, Thursday, Jan. 8, 2015. (AP Photo/Michael Sohn) German Chancellor Angela Merkel, right, and the Prime Minister of Ukraine, Arseniy Yatsenyuk, left, look at Merkel's watch during a joint press conference as part of a meeting at the chancellery in Berlin, Germany, Thursday, Jan. 8, 2015. (AP Photo/Michael Sohn)

By Associated Press January 8, 2015 2 min read

BRUSSELS (AP) – The European Union has offered to give extra rescue loans to Ukraine, which is struggling with recession and a costly war, but only if it makes its promised economic and political reforms.

The EU says it can give another 1.8 billion euros ($2.12 billion) in loans – on top of the 11 billion euros already pledged – if Kiev respects the terms of its international bailout deal. In particular, it wants to see better progress in stamping out corruption.

“We need to see this commitment to reforms and some results on different issues,” said EU foreign affairs chief Federica Mogherini during a visit to Riga, Latvia.

Ukrainian Prime Minister Arseniy Yatsenyuk highlighted how tough it was to push through unpopular spending cuts.

“Is it enough? No, it’s never enough. You have always to move forward,” Yatsenyuk said during a visit to Berlin. “We are doing the job on our side despite the fact that we face tremendous challenges.”