European Union to provide 35 billion euro loan to Ukraine

European Commission President Ursula von der Leyen, who is visiting the Ukrainian capital Kyiv, has announced a new aid package for Ukraine.

In a statement on her social media account, Von der Leyen stated that Ukraine is in constant need of EU support due to Russia's relentless attacks.

Stating that the EU Commission will provide a loan of up to 35 billion euros (39 billion dollars) to Ukraine as part of the G7 commitment, Von der Leyen said this is another significant contribution by the EU to the reconstruction of Ukraine.

Speaking at a joint press conference with Von der Leyen, Ukrainian President Volodymyr Zelenskyy said, “We will spend this money primarily on energy and defense, as well as building bomb shelters in schools, kindergartens, and universities.” Von der Leyen added, "We are now confident that we can deliver this loan to Ukraine very quickly. You will decide how best to use the funds.”

In June, G7 countries agreed to provide a loan of approximately 45 billion euros (50 billion dollars) to Ukraine, using the proceeds from frozen Russian assets as collateral.

News Source: İHA