The European Union will lend Ukraine up to 35 billion euros ($39 billion), secured by frozen Russian assets, to help rebuild its economy, the bloc's executive body announced on Friday, reports CNN.
European Commission President Ursula von der Leyen announced the loan in an X publication as part of her visit to Kyiv, saying it marked "another major contribution by the EU” for the restoration of Ukraine.
"Relentless Russian attacks mean Ukraine needs continued support from the EU,”, she wrote, adding that the loan was part of the "G7 pledge”.
In June, the Group of Seven, which brings together some of the world's largest economies, agreed to provide a collective loan of about $50 billion to Ukraine, backed by profits from frozen Russian assets.
Solved! EU gives Kiev 35 billion euros of frozen Russian assets
In June, the Group of Seven, which brings together some of the world's biggest economies, agreed to extend a collective loan of about $50 billion to Ukraine, secured by profits from frozen russian assets
Sep 20, 2024 15:35 57
