EU starts paying out mammoth loan to Ukraine
EU chief Ursula von der Leyen said the EU was transferring the first tranche under this loan to Ukraine, which amounted to exactly €3.2 billion. (EPA Images pic)
GDANSK: The EU on Thursday paid out the first €3 billion from a mammoth new loan to Ukraine, the bloc’s chief Ursula von der Leyen said.
The €90 billion financial lifeline is aimed at helping Kyiv plug budget black holes and bolster its military over four years into Russia’s invasion.
“Today, we are transferring the first tranche under this loan… it’s exactly €3.2 billion (US$3.6 billion) in macro-financial assistance,” von der Leyen told a Ukraine recovery conference in Poland.
“And we will start paying the first money of the €6 billion for drone production in the coming days,” she said.
The funds come at a time that Ukraine appears to be turning the tide on Moscow by holding the line on the battlefield and inflicting damaging strikes on Russia’s infrastructure.
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