European Commission to announce €35 billion loan for Ukraine

European Commission President Ursula von der Leyen is set to announce a €35 billion loan for Ukraine, as reported by the Financial Times, citing anonymous sources.

This loan is part of a broader G7 initiative, which aims to allocate $50 billion to Ukraine by utilizing profits from frozen Russian assets. The €35 billion loan represents a compromise within the European Union, enabling the EU to bypass Hungary's veto and proceed with the aid, even without U.S. involvement.

Before the funds can be disbursed to Ukraine, the loan must gain approval from a majority of EU member states and the European Parliament, with a deadline set for the end of the year.

Von der Leyen had previously announced her plans to visit Kyiv.

News.Az