Loan will be repaid only if Moscow pays reparations and plan to use Russia’s frozen assets still on table
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Ukraine will be able to buy military equipment from non-European suppliers when it is given access to a €90bn (£78bn) EU loan later this year under a proposal outlined by the EU executive.
The European Commission on Wednesday published detailed proposals to lend Kyiv €90bn, but said an alternative plan based on using Russia’s frozen assets remained on the table.
The idea of an EU loan for Ukraine emerged last month, after EU leaders failed to agree on an alternative option of using Russian frozen assets to raise the funds. At a summit in December, 24 of 27 EU member states agreed to borrow on capital markets for Kyiv, securing the loan against unallocated funds in the EU budget.
