European Commission President visits Kiev, pledges $39 billion loan to Ukraine

European Commission President Ursula von der Leyen announced the loan on Friday in a post on X as part of her visit to Kiev. “The continued Russian attacks mean that Ukraine needs the EU’s continued support,” she wrote, adding that the loan was part of a “G7 commitment.”

European Commission President Ursula von der Leyen, center, during a visit to Kiev, Ukraine on September 20. Photo: AP

“We are now confident that we can provide this loan to Ukraine very quickly,” she later said at a news conference with Ukrainian President Volodymyr Zelenskyy in Kiev, telling him: “You will decide how best to use the funds.” The money is expected to be delivered to Ukraine by the end of the year.

In June, the G7 group, which brings together some of the world's largest economies , agreed to lend Ukraine about $50 billion, using future profits from frozen Russian assets held in the EU and elsewhere as collateral.

Western nations have frozen Russian assets in bank accounts in Europe, the United States and elsewhere as part of a major wave of sanctions imposed after Russia's invasion of Ukraine in 2022.

About two-thirds of Russia's frozen assets, or some 210 billion euros ($234 billion), are in the EU, while just $3 billion is held in US banks.

The EU loan still needs to be approved by the European Parliament and a majority of the bloc’s member states. “Given the urgency of the proposal, the Commission will make every effort… to ensure its rapid adoption,” the European Commission said in a press release.

Von der Leyen’s visit to Kiev comes as winter sets in in Ukraine. Russian bombing of the country’s energy infrastructure has increased in recent months, leaving Ukrainians vulnerable to power outages.

The coming winter will be the “severeest test” yet for Ukraine's energy system, the International Energy Agency said on Thursday.

Huy Hoang (according to CNN, AP)

Source: https://www.congluan.vn/chu-tich-uy-ban-chau-au-tham-kiev-cam-ket-cho-ukraine-vay-39-ty-usd-post313234.html