International

EU will offer Kiev a loan of up to 35 billion euros

Update: 13:25 European Commission President Ursula von der Leyen on Sept. 20 announced a loan of up to 35 billion euros ($39 billion) to Ukraine as part of a $50-billion pledge by the G7, reports The Kyiv Independent.

"Relentless Russian attacks means Ukraine needs continued EU support. The European Commission will provide a loan of up to 35 billion euros to Ukraine as part of the G7 pledge. This is another major EU contribution to Ukraine's recovery", the chief of the EU's executive arm said during her visit to Kyiv.

Ursula von der Leyen, visiting Kiev: "We will help Ukraine in its courageous efforts"

Von der Leyen arrived in Ukraine's capital earlier on Sept. 20 to discuss Europe's support in various areas "from winter preparedness to defense, to accession and progress on the G7 loans."

The G7 agreed in June to provide Ukraine with a loan of $50 billion by the end of the year, covered by proceeds from immobilized Russian assets.

Speaking alongside von der Leyen during a joint press conference, President Volodymyr Zelensky said that the 35 billion euros would be used for energy needs, bomb shelters, and defense purposes.

"We will spend these 35 billion primarily on energy, on defense, on bomb shelters for children in schools, kindergartens, and universities," Zelensky said.

Regarding defense purchases, the EU loan will be used mainly to purchase domestic-made long-range drones and missiles, but a part may be "spent on air defenses that are not produced in our country," the president added.

Also on Thursday, the International Energy Agency (IEA) warned that this winter, Ukraine is facing the "most serious challenge" energy since the Russian invasion in February 2022.

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