Table of Contents
The European Union will provide Ukraine a loan of up to €35 billion as part of a $50-billion pledge by the G7, European Commission President Ursula von der Leyen said Friday in a post on X during a visit to Kyiv.
"Relentless Russian attacks mean Ukraine needs continued EU support," Von der Leyen wrote. "This is another major EU contribution to the Ukraine's recovery."
In June, the G7 leaders agreed to issue a $50 billion loan to Ukraine by the end of the year, to be repaid with future profits from frozen Russian foreign reserves.
The support package has in the meantime lost momentum due to safeguards demanded by the United States and fears of Hungary blocking it.
Unnamed sources told the Financial Times earlier this week the EU was working on an alternative plan to provide up to €40 billion in loans to Ukraine, regardless of US involvement.
Von der Leyen arrived in Ukraine's capital earlier on Thursday to discuss Europe's support in various areas "from winter preparedness to defense, to accession and progress on the G7 loans," she said in a separate post on X.
