The loan is supported by proceeds from frozen Russian assets.
The European Commission has allocated a loan to Ukraine in the amount of €35 billion.
This was announced by European Commission President Ursula von der Leyen at a joint press conference with Ukrainian President Volodymyr Zelensky.
According to her, Ukraine will receive a loan “very quickly”.
“Today, the European Commission approved proposals that will allow the European Union to lend 35 billion euros from the G7 commitment. This is a huge step forward. We are convinced that we will provide this loan to Ukraine very quickly,” von der Leyen emphasized.
She noted that the loan is supported by proceeds from frozen Russian assets.
“This will improve Ukraine's macro-financial stability,” von der Leyen emphasized.
She specified that Ukraine will decide how best to use these funds.
“We will spend primarily on energy, on defense. Also on bomb shelters for children in schools, kindergartens, at universities. This is a big deficit for us. And on domestically produced weapons. First of all, on drones and missiles. Our long-range drones are hitting the enemy today, and they are cheaper than those of our partners,” Zelensky emphasized.
Recall that US military aid is not coming to Ukraine fast enough. Washington is trying to solve this problem.