EU to grant Ukraine additional USD-39-bln loan

The European Union (EU) will lend Ukraine a new loan estimated at 35 billion euros (USD 39 billion), European Commission President Ursula von der Leyen announced on Friday. The European Commission took a crucial step today to enhance support to Ukraine through proposing a comprehensive financial package, including a loan valuated at 45 billion euros (about USD 50.3 billion) and another exceptional one estimated at 35 euros for all financial aid, the EU said in a statement. Ukraine will benefit from this exceptional profit from Russia's frozen assets, and this means that rebuilding Ukraine will be at the expense of those who destroyed it. This loan will ensure stable financial support for Ukraine's recovery and steadfastness in the war against Russia, it added, As Ukraine continues to face unprecedented challenges caused by "Russia's aggression, this proposal confirms the EU firm commitment to Ukraine's sovereignty and economic recovery, it noted. Ukraine can use this support to repay the delayed loans of and other lenders participated in the initiative of Extraordinary Revenue Acceleration Loans for Ukraine belonging to the G7 countries, the commission elaborated. The proposal needs an agreement of the European Parliament and the majority of member states before coming into force. (end) rn.hm Source: Kuwait News Agency