EU gives war-ravaged Ukraine $1 billion loan
The European Union says it is sending €1 billion ($1 billion) to war-torn Ukraine. The aid is meant “to cover urgent needs and ensure the operation of critical infrastructure”.
Ukraine has continued to defend itself against invading Russian army.
The EU finance ministers Tuesday, in Brussels, agreed on the funding.
“This will give Ukraine the necessary funds to cover urgent needs and ensure the operation of critical infrastructure,” Czech Finance Minister Zbyněk Stanjura said in a statement.
They believe also that the fund would help Ukraine meet general costs like paying wages and keeping hospitals and schools open, among other things.
The latest financial aid package – issued as a long-term loan on favourable terms – brings the total economic assistance to Ukraine to €2.2 billion, excluding military and humanitarian aid support.
In February, just days before Russia attacked Ukraine, the EU agreed to issue Ukraine €1.2 billion in loans as macro-financial assistance.
European Commission President Ursula von der Leyen said on Twitter that the financial support could reach Ukraine before the end of July.
(NAN)
