EU ministers approve ?6.5bn loan for Hungary

European Union finance ministers clear the loan for Hungary as part of an IMF package.

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BRUSSELS // European Union finance ministers today cleared a ?6.5 billion (Dh30bn) loan for Hungary, an EU diplomat said. The loan, to be raised by the European Commission on capital markets, is part of the International Monetary Fund package for the central European country which has been hit hard by the global financial crisis. "The Council (EU ministers) approved the loan for Hungary," the EU diplomat said.