The EU agreed to provide a $1bln emergency loan package to support Ukraine’s urgent needs. The loan is part of a new macro-financial assistance package of €9bln that the EC has been preparing since mid-May. Meanwhile, the government will draw an interest-free loan of up to €200mln from Italy for a 15-year period with a 7.5-year grace period via the IMF-administered account. The funds will support the country’s state budget and will finance payments to school teachers.