BRUSSELS - The European Commission, or the executive body of the European Union (EU), disbursed on Wednesday a loan of 600 million euros (654 million U.S. dollars) to Ukraine.

According to a press release issued by the Commission, this loan corresponds to the first instalment under the new EU Macro-Financial Assistance (MFA) program for Ukraine, which amounts to a total of 1.8 billion euros.

Through this program, the EU aims to cover the urgent financing needs faced by Ukraine, while supporting the country's economic stabilization.

In addition, the EU's MFA package will assist the Ukrainian authorities in implementing important reforms in the areas of public finance management, governance and transparency, the energy sector, social safety nets, the business environment and the financial sector, said the press release.

Valdis Dombrovskis, the European Commission Vice-President responsible for the Euro and Social Dialogue, said the disbursement reflected the EU's "unfailing determination to stand by Ukraine in these challenging times."(Xinhua)