LONDON, Sep 20 (Alliance News):The European Union announced on Friday that it will loan Ukraine up to €35 billion ($39 billion) to aid in rebuilding its economy.
European Commission President Ursula von der Leyen shared the news during her visit to Kyiv, emphasizing that this financial support is a significant contribution to Ukraine’s recovery amid ongoing challenges.
“Relentless Russian attacks mean Ukraine needs continued EU support,” von der Leyen stated, noting that the loan is part of the broader G7 commitment to assist Ukraine.
In June, the G7, comprising some of the world’s largest economies, agreed to collectively provide around $50 billion in loans to Ukraine, backed by profits from frozen Russian assets. These assets were frozen in response to sanctions imposed after Russia’s invasion of Ukraine in 2022.
Von der Leyen’s visit coincides with the onset of winter heating season, a crucial time as intensified Russian bombardments have targeted Ukraine’s energy infrastructure, leaving many citizens vulnerable to power outages.
