Ukraine receives the first 3.2 billion euros from a large EU loan for reconstruction and defense. Brussels thus sends a clear signal of long-term support for Kyiv.
On Thursday, Ukraine will receive the first 3.2 billion euros from the 90 billion euro loan provided by the European Union. This was stated on Thursday by the President of the European Commission (EC), Ursula von der Leyen, at the Conference on the Restoration of Ukraine in Gdansk, Poland. TASR informs about it according to the DPA agency.
The first part of the money will be used to finance budget expenditures. Another payment intended to finance the production of drones will come to Kyiv’s account in the coming days. In total, 30 billion is reserved in the loan for budget expenditures and 60 billion for military aid.
Support for Ukraine
According to von der Leyen, the first payment is proof that the EU’s support for Ukraine continues. According to Ukrainian Prime Minister Julia Svyrydenko, the payment will help Ukraine strengthen its defense, maintain macroeconomic stability and prepare the energy system for the upcoming heating season.
The loan is intended to allow Ukraine to continue defending itself against a Russian invasion and prevent it from going bankrupt. The European Commission obtains funds on the capital market under favorable conditions. Ukraine would be obliged to repay the money only if Russia paid compensation for the damage caused after the end of the war.
Credit agreement
The agreement between EU leaders stipulates that Russian assets frozen in the EU can be used to repay the loan if Moscow does not provide compensation for war damages. Union countries unanimously approved the loan in April after former Hungarian Prime Minister Viktor Orbán blocked it for months.
