The European Parliament approved a loan to Ukraine at the expense of the frozen assets of the Russian Federation
22.10.2024 - 14:35
The European Parliament voted to grant Ukraine a loan of 35 billion euros at the expense of frozen Russian assets.
The new macro-financial assistance was approved on Tuesday, October 22, the website of the European Parliament reported.
This loan is part of the G7 package of measures agreed last June, within the framework of which Ukraine will receive approximately 45 billion euros in financial support. The final amount of the EU contribution may be lower depending on the size of loans provided by other G7 partners.
The credit mechanism for cooperation with Ukraine will take funds from the frozen assets of the Central Bank of Russia located in the EU. This money will help Ukraine service and repay the EU’s MFA loan, as well as loans from other G7 partners.
The new MFA funds will be disbursed by the end of 2025. The loan is provided subject to Ukraine’s continued commitment to support effective democratic mechanisms, respect for human rights, and further political conditions to be outlined in the memorandum of understanding.
We will remind you that the vote on the loan to Ukraine at the expense of the assets of the Russian Federation began on the morning of Tuesday, October 22.
