The European Council adopted a decision providing up to €1bn in macro-financial assistance to Ukraine to support its economic stabilisation and its structural reform agenda.

Macro-financial assistance will be provided in the form of loans with a maximum maturity of 15 years. It will contribute to covering Ukraine's urgent balance-of-payments needs as identified in the government's economic programme supported by the IMF, EU said in a statement.

Today's decision to provide loans of up to €1bn is additional to €610 million that was agreed in 2010 but is also conditional on the signature of an agreement between Ukraine and the IMF.

As reported earlier, EU also approved unilateral trade preferences for Ukraine.