EU pledges to loan Ukraine up to $57 billion to help rebuild its economy and power grid
The European Union pledged on Friday to lend Ukraine up to €35 billion ($57 billion) as part of a loan package organised by the Group of Seven (G7) major industrial nations, as it seeks to help the country rebuild its economy and its war-shattered power grid.
G7 leaders agreed in June to engineer a $US50 billion ($73.5 billion) loan to help Ukraine in its fight for survival.
Interest earned on profits from Russia's frozen central bank assets would be used as collateral, but progress in distributing the loans has been slow.
Ukrainian President Volodymyr Zelenskyy, right, and European Commission President Ursula von der Leyen greet each other in Kyiv, Ukraine, Friday, Sept. 20, 2024. (AP Photo/Efrem Lukatsky)
"We should make Russia pay for the destruction it cau...