Ukrainian President Petro Poroshenko today thanked the Swedish government for a $100 million loan for Kiev's cash-strapped economy, one piece of a multi billion dollar package the country needs to avoid collapse.
"The government of Sweden has taken the decision to provide a $100 million loan to Ukraine," Poroshenko said in a joint press conference with Swedish premier Stefan Loefven who is on a visit to the Ukrainian capital.
"The Swedish government is taking care of the interest on this loan themselves," Poroshenko said, thanking Loefven for the decision and calling Sweden "a true friend of Ukraine" though without immediately clarifying the details of the loan.
The cornerstone of that would be an IMF bailout of $17.5 billion over the next four years, with the IMF expected to make a decision later Wednesday over the funding.
"I am sure that today there will be a positive decision (on the IMF loan)," Poroshenko said. "Today it will be a historical decision."
The austerity measures come on top of an already crippled economic base where a lot of the country's industrial core in the east has either stopped working or was physically destroyed in the fighting with pro-Russia separatists.
"When I am asked how much financial assistance I expect, I say -- the more the better," said Poroshenko. "The total package being put together to help Ukraine... should be over $40 billion today."
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