A loan of up to 35 billion euros will be granted by the European Union to Ukraine, Commission President Ursula von der Leyen announced in Kiev during a joint press conference with Ukrainian President Volodymyr Zelensky.
The loan is part of a broader plan by G7 countries to raise capital using funds from Russian assets that have been frozen under sanctions imposed on the country over its invasion of Ukraine.
“The relentless Russian attacks mean that Ukraine needs continued support from the EU. The European Commission will provide a loan of up to €35 billion to Ukraine as part of the G7 commitment. This is another important contribution from the EU to Ukraine’s recovery,” the President of the European Commission wrote to “X”, shortly before the press conference.
Relentless Russian attacks mean Ukraine needs continued support from the EU.
THE @EU_Commission will provide a loan of up to €35 billion to Ukraine as part of the G7 commitment.
This is another important contribution from the EU to Ukraine’s recovery.
— Ursula von der Leyen (@vonderleyen) September 20, 2024
During her remarks, Ms von der Leyen expressed the assessment that the loan will be disbursed quickly. “You will decide how best to use the funds, giving you maximum flexibility to meet your needs,” the Commission President said.
President @ZelenskyyUAwe will continue to support Ukraine ↓ https://t.co/ooT5OKGA1c
— Ursula von der Leyen (@vonderleyen) September 20, 2024
Zelensky: Ukraine’s ‘winning plan’ depends on allies’ decisions
In turn, Ukrainian President Volodymyr Zelensky said that Ukraine plans to use the loan for air defense, energy and the domestic arms market. He also said that Ukraine’s “winning plan” for war against Russia depends on quick decisions being made by allies.
The Ukrainian president stressed the importance of Joe Biden’s role, expressing hope that the American president will support his plan to end the war. The US and Ukrainian presidents will meet next week in Washington.
#TO UPDATE Ukrainian leader Volodymyr Zelensky said on Friday he hopes US President Joe Biden will support his plan to end the war with Russia, ahead of a trip to Washington.https://t.co/YPqO8W0VHS pic.twitter.com/jtR5bzkqJc
– AFP News Agency (@AFP) September 20, 2024
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