Ukraine will be able to use 60 billion euros of the loan offered by the EU for military purposes. Bear von der Leyen: “He will be able to withstand Russia”
The head of the European Commission, Ursula von der Leyen. Photo source: FREDERICK FLORIN / AFP / Profimedia
The President of the European Commission, Ursula von der Leyen, announced that Ukraine will be able to spend this year and next year to strengthen its military capabilities 60 billion of the 90 billion euros from the loan offered by the EU, AFP wrote, according to Agerpres.
In December, European leaders agreed on a 90 billion euro loan, financed by issuing joint EU debt. It will be guaranteed by the EU budget, that is, by the member states, and Ukraine will only repay it if Russia pays it “war reparations”.
Hungary, the Czech Republic and Slovakia were exempted from participating in the mechanism after threatening to block it with a veto. Budapest Prime Minister Viktor Orban claims that Ukraine will never repay the loan because Russia will not want to pay it war reparations, so EU states will eventually pay it.
After reaching an agreement, the head of the European Commission declared that the loan will have zero interest for Ukraine, the interest will also be borne from the community budget.
On Wednesday, Ursula von der Leyen stated that 30 billion of the 90 billion can be used by Ukraine to cover the budget deficit, while 60 billion can be used for the purchase of military equipment, supplied with priority by European countries.
“With 60 billion euros of military aid, Ukraine will be able to resist Russia and, at the same time, be able to integrate more closely into the European defense industrial base,” declared the president of the European Commission.
If European manufacturers cannot meet a certain demand, Ukraine will be able to buy the weapons or ammunition in question from outside Europe, said Ursula von der Leyen.
Some EU countries, including France, have insisted that this funding go mainly to the European defense industry. Kiev disputed the requirement, arguing that much of the military equipment needed is provided by the US.
After returning to the White House, Donald Trump stopped approving US military aid donations to Ukraine, but continued the delivery of arms and ammunition based on aid already approved by his Democratic predecessor, Joe Biden.
In the meantime, the PURL initiative, or Priority Needs List for Ukraine, was launched, through which European states buy American weapons and ammunition for Ukraine.
