The European Union’s executive on Thursday proposed granting an extra €1.8 billion ($2 billion) in financial support to help beleaguered Ukraine stave off bankruptcy.

The loans, designed to help Ukraine overhaul its economy and keep up government payments, need to be approved by the European Parliament and EU national governments.

Distribution could take until early 2016 and will be conditional on “reform actions” to be taken by the government in Kiev, as well as new aid from the International Monetary Fund, the European Commission said.

“We want to help the Ukrainian government to put its reform agenda into practice and trigger real change for the country and its people,” said Commission President Jean-Claude Juncker.

The commission wants Kiev to further reduce spending and overhaul its energy and banking sectors and its judicial system.