Russia's VTB bank is ready to grant Ukraine a loan of up to $500 million to finance its budget spending, a Russian government official said on Friday.
Deputy Economic Development Minister Andrei Klepach suggested the loan could be used to finance Ukraine's budget deficit.
"It is not a target-specific loan [tied to a particular program]," he said.
He did not say exactly when the loan could be made available, but Russian Prime Minister Vladimir Putin said earlier in the day VTB, Russia's second largest state-controlled bank, could provide the loan soon.
"VTB has been in talks with the Ukrainian Finance Ministry and if the Ukrainian side is interested, it is ready to provide the Ukrainian Finance Ministry with a loan of up to $500 million in the very near future," Putin said.
Putin suggested during a meeting with his Ukrainian counterpart Mykola Azarov that Ukraine was beginning to see political stabilization, which should be followed by economic stabilization.
Putin and Azarov, meeting in the Black Sea resort of Sochi, discussed cooperation in more than 10 spheres, including oil, gas, nuclear energy and defense.
SOCHI, April 30 (RIA Novosti)
