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The European Union plans to finance a €35 billion ($39.1 billion) loan, backed by future earnings from frozen Russian central bank assets, to help provide more predictable financial support to Ukraine, the Financial Times reported.
European Commission President Ursula von der Leyen made the announcement during her visit to Kyiv on Friday.
The loan is part of a broader $50 billion plan to help Ukraine that was the result of negotiations with the United States and the Group of Seven nations, Bloomberg News reported on Friday.
Von der Leyen arrived in Kyiv on Friday, carrying promises of sustained EU support for Ukraine, including aid, in what is expected to be another harsh winter.
“My eighth visit to Kyiv comes as the heating season approaches and Russia continues to target energy infrastructure,” von der Leyen said in a post on social media, X, accompanied by a photo of herself at the train station.
“We will help Ukraine in its courageous efforts. I came here to discuss support for Europe: from winter preparation to defence, joining the G7 and progress on loans from the group,” she added.
The European Commission president is due to discuss energy aid to Ukraine with Ukrainian President Volodymyr Zelensky later on Friday.
“The EU will provide an additional €160 million ($178 million) to Ukraine to help repair damaged energy infrastructure, expand renewable energy and finance shelters,” von der Leyen had said before her visit.
It is noteworthy that Russia has already caused severe damage to many Ukrainian power plants and infrastructure, and as a result, fears have grown in the country about facing a third very difficult winter during the war that began in February 2022.
