EU Governments Back $1.9 Billion Ukraine Loan

European Union governments formally approved a $1.9 billion loan for Ukraine on Tuesday to help save it from bankruptcy. An EU statement said It will be paid out in three installments with a maximum maturity of 15 years. Ukraine, fighting a costly war against pro-Russian separatists, is relying on international support to avoid default. According to the statement, the European Commission will work out an agreement with Kiev, laying down economic policy and financial conditions for the EU loan, focusing on structural reforms and sound public finances.