EU countries have approved providing Ukraine with a loan of up to €35bn before the end of the year as part of a G7 plan to fund Kyiv’s defence against Russian aggression.
A majority of EU ambassadors on Wednesday backed the issuance of a loan guaranteed by the bloc’s common budget, according to people familiar with the matter. The decision comes after months of wrangling over how to structure their share of a $50bn plan by the G7 to support Ukraine.
The option of raising money against the EU budget was announced by European Commission President Ursula von der Leyen when she travelled to Ukraine last month, as a way to circumvent objections from countries opposed to further aid for Kyiv.
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