European Commission to Provide Ukraine with €35 Billion Loan
The European Commission will provide Ukraine with a loan of 35 billion euros within the framework of the agreements of the G7 countries.
This was announced by the President of the European Commission Ursula von der Leyen on September 20 during a visit to Kyiv.
Her statement is quoted by TASS .
How von der Leyen announced a €35 billion loan to Ukraine
As von der Leyen reported, the EC will provide Ukraine with a loan of 35 billion euros, which will be an important contribution of the European Union to the country's recovery.
She specified that 35 billion euros is the part that European countries will contribute to the 45 billion euro loan approved by the Group of Seven in the summer.
According to the EC statement, Brussels will also initiate the creation of a credit cooperation mechanism for Ukraine, which will help provide it with the aforementioned 45 billion euros.
This mechanism will allow Ukraine to repay the loan using funds from the income from frozen Russian assets.
For the EC's proposals to enter into force, they must be approved by the European Parliament and the Council of the European Union.
