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. Last Updated: 07/27/2016

Ukraine Loans on Hold

WASHINGTON -- The World Bank has put $600 million in loans for Ukraine on hold, citing a lack of progress by the government on economic reforms, a bank official said Friday.

"The decision was made as a result of the lack of progress in the implementation of a number of macroeconomic reform measures by the government of Ukraine," the official said.

The deferred loans comprise $300 million for a business development project and $300 million for financial sector reforms.

The official could not say when and if the loans would be disbursed to the former Soviet republic.