European Commission president Ursula von der Leyen travelled to Kyiv on Friday where she announced a €35bn EU loan for Ukraine as part of a G7 plan to raise $50bn on the back of future profits from frozen Russian state assets.
Other G7 members will pay up the difference to the $50bn which was agreed earlier this year but has been marred by delays. The Financial Times on Friday was first to report on the EU’s €35bn loan.
“We are now confident we can deliver to Ukraine very quickly, a loan that is backed by the windfall profits from the Russian assets,” von der Leyen said speaking next to Ukrainian President Volodymyr Zelenskyy.
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