EU Pledges €35 Billion Loan to Ukraine Amid Ongoing Conflict

The EU will provide up to 35 billion euros ($39.06 billion) in loans to Ukraine to support the nation amidst its ongoing war with Russia. The announcement was made by EU Commission President Ursulo von der Leyen during her visit to Kyiv. The loan is part of a broader G7 scheme to utilize funds from frozen Russian assets.

The European Union has committed to issuing a substantial loan of up to 35 billion euros ($39.06 billion) to support Ukraine as it remains entangled in a protracted war with Russia. The announcement came from EU Commission President Ursulo von der Leyen on Friday.

The declaration was made during von der Leyen's visit to Kyiv, where she emphasized the EU's continued support for Ukraine in these challenging times. The loan is part of a larger initiative by G7 nations, who are seeking to raise capital through the sale of frozen Russian assets, implemented as part of sanctions against Russia for its invasion.

In an ongoing effort to financially underpin Ukraine's resistance, the G7 nations are coordinating their fiscal resources, demonstrating a united front in the geopolitical arena. This significant financial aid package comes as another chapter in the series of international efforts to bolster Ukraine's defense and economic stability.

(With inputs from agencies.)