EU approves next loan tranche

  • 2010-07-21
  • TBT Staff

RIGA - The EU has agreed to provide the 200 million euro loan that will make up the next tranche in Latvia's multi-billion euro loan package.

The EU has been gradually filling the terms of the massive loan -- keeping a close eye that its conditions are met -- ever since Latvia was forced to take it out last year to avoid bankruptcy.

The latest part of the loan is due to come through in September. The EU approved the lastest installments following its third review of the loan program.