EU to Provide 1.59 Bln Euro Loan to Ukraine

On Monday, European Commission President Ursula von der Leyen said the European Union (EU) will provide a preferential loan to Ukraine in the amount of 1.59 billion euros.

Von der Leyen mentioned that one billion euros of the loan would be transferred through the European Investment Bank immediately.

She highlighted that the European Investment Bank (EIB), with the support of the EU budget, has agreed to allocate 1.59 billion euros, one billion euros of which will be issued immediately.

Earlier, Bloomberg Agency reported that the European Commission decided to ban a 1.5 billion euro loan to Kyiv due to concerns about its financial reliability.

According to the EIB official website, this relief package is part of the European Investment Bank's solidarity response in Ukraine that has been prepared in cooperation with the European Commission.

It benefits from an EU guarantee under the External Lending Authorization and complements the €668 million in immediate financial support for Ukraine provided by the EIB in early March 2022.

The second relief package under the EIB solidarity response will help Kyiv to resume basic services and get the most critical infrastructure up and running again, enhance the country's resilience and maintain economic stability.