The EU plans to offer Ukraine a $50 billion loan “very soon”: Bloomberg
Profits from frozen assets of the Russian Federation are planned to be the main source of financing.
The European Commission plans to make a proposal for a package of loans to support Ukraine in the amount of 50 billion dollars in the near future in order to have time to complete the legislative work by the end of the year. This was announced by the Commissioner for Economy, Paolo Gentiloni, write Bloomberg.
The bailout plan, based on profits from frozen Russian assets, will be discussed by the heads of finance and central banks of the G7 countries in Rio de Janeiro next week.
“The start of this process is very urgent. That is why, and because of the G-7 meeting next week, the European Commission is working intensively to get the proposal on the table as soon as possible, which means very soon.”Gentiloni said before the meeting of EU finance ministers in Brussels.
The EU is looking for ways to bypass Hungary’s opposition to Ukraine’s support. Budapest is blocking the allocation of billions of euros urgently needed for military aid to Kyiv. The Commission is working on a mechanism that will guarantee the allocation of funds at the expense of the free balance in the European budget, but this is possible only until the end of the year.
“Continuity of support for Ukraine is one of the most important features of this new package of loans, as we want to send a clear signal that the G7 countries and other countries of the world will continue to support Ukraine as long as necessary.”, – added Gentiloni.
