Feb 24 β€’ 16:03 UTC πŸ‡±πŸ‡Ή Lithuania 15min

EU chief promises a €90 billion loan to Ukraine in Kyiv

Ursula von der Leyen, the head of the European Commission, announced a commitment to grant Ukraine a €90 billion loan amid ongoing geopolitical tensions.

Ursula von der Leyen, the President of the European Commission, made a significant announcement in Kyiv regarding a planned €90 billion loan to Ukraine, emphasizing that the European Union remains committed to supporting the nation amidst the ongoing conflict caused by Russia's invasion. During a press conference held to mark the fourth anniversary of the invasion, von der Leyen stated, 'We will provide this loan one way or another. Let me be very clear. We have various options and we will make use of them.' This statement underscores the EU's determination to bolster Ukraine's economy during a critical period.

The announcement comes at a time when Hungary's Prime Minister Viktor Orban, known for his friendly relations with the Kremlin, is reportedly blocking the loan proposal from moving forward. This has raised concerns about the potential impact on EU solidarity regarding support for Ukraine. The European Commission chief's declarations reflect a broader strategy to ensure financial assistance to Ukraine despite internal challenges within the EU, highlighting the importance of unity against Russian aggression.

The implications of this loan are significant for Ukraine as it seeks to rebuild and stabilize its economy amidst the challenges posed by the ongoing conflict. The commitment from the European Union also sends a strong message on the international community's resolve to support Ukraine in its fight for sovereignty and integrity. Strengthening economic ties and support will be crucial for Ukraine's recovery in the long run.

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