EU Council approves loan of up to €35 billion for Ukraine
Illustrative photo: The EU Council approved a loan of up to €35 billion for Ukraine (Getty Images)
Ukraine will receive a loan of up to €35 billion from the European Union as part of G7 commitments. This decision was made by the EU Council, according to the Hungarian Presidency of the EU Council on X and the press service of the White House.
"Following the successful conclusion of a written procedure, the Council today adopted a financial assistance package to Ukraine, including an exceptional macro-financial assistance (MFA) loan of up to €35 billion," the statement says.
At the same time, the White House announced that the United States plans to provide Ukraine with a loan of $20 billion.
A $50 billion loan for Ukraine
In June, the G7 countries promised to provide Ukraine with a loan of $50 billion following the summit. It will be funded by profits from frozen Russian assets.
The G7 countries assured that the funds would be transferred to Ukraine by the end of 2024, but this has not yet happened. The delay is due to prolonged discussions about how much each G7 participant will contribute, as well as Washington's conditions regarding the continuation of EU sanctions.
Notably, Ukraine can also use the received funds for the purchase of weapons.
Ukrainian President Volodymyr Zelenskyy has already stated that the €35 billion from the EU will primarily be spent on the energy sector and defense.
