EU to provide Ukraine with loan worth up to 35 bln euros

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The EU will grant a loan of up to 35 billion euros ($39.06 billion) to Ukraine to help the country stuck in a grinding conflict with Russia, EU Commission President Ursula von der Leyen announced on Friday.

The loan, which was announced while the bloc's Commission chief is on a visit to Kyiv, is part of a wider plan among G7 nations to raise funds using proceeds from Russian assets frozen to sanction the country. "This is another major EU contribution to the Ukraine's recovery," said von der Leyen.

Ukrainian President Volodymyr Zelenskyy said Ukraine plans to use the EU loan for air defense, energy, and domestic weapons purchases.

Source(s): Reuters