BRUSSELS: Two-thirds of a vital 90 billion euros ($105 billion) EU loan for Ukraine will go to cover Kyiv’s military apparatus with the rest earmarked for general budget support, Brussels said Wednesday.
Agreed by EU member states in December after months of diplomatic wrangling, the loan offers cash-strapped Ukraine a desperately needed lifeline as Russia’s invasion of its neighbor grinds toward its fifth year.
The European Commission said it was pushing for Kyiv to receive the first disbursement in April, as it provided details of the facility at a press conference in Brussels.
“With this support, we make sure that Ukraine can on one hand bolster its defense on the battlefield and strengthen its defense capabilities — so, its military needs — and on the other hand keep the state and basic services running,” EU chief Ursula von der Leyen told reporters.
Von der Leyen said the funds will be used to buy weapons mainly from Ukraine and European nations — something France and others have long said is key to bolster the EU’s defense industry and ease dependence on the United States.
