"Ukraine will be able to buy military equipment from non-European suppliers when it is given access to a 90bn (78bn) EU loan later this year under a proposal outlined by the EU executive. The European Commission on Wednesday published detailed proposals to lend Kyiv 90bn, but said an alternative plan based on using Russia's frozen assets remained on the table."
"This loan would only be repaid by Ukraine if Russia pays Kyiv reparations for the immense damage inflicted during the full-scale invasion that is approaching its fourth anniversary. Presenting the proposal to reporters on Wednesday, the European Commission's president, Ursula von der Leyen, said Russia showed no sign of remorse or seeking peace and had intensified strikes on Ukraine during Christmas, killing civilians and hitting energy infrastructure."
The European Commission proposed a €90bn loan package for Ukraine, while keeping an alternative plan to use frozen Russian assets under consideration. The loan idea followed a failure among EU leaders to agree on using immobilised Russian funds, and 24 of 27 member states agreed in December to borrow on capital markets secured against unallocated EU budget funds. Repayment by Ukraine would depend on Russia paying reparations for wartime damage. The package allocates €60bn for military spending and €30bn for general budget support, aims to disburse initial tranches in April, and conditions payments on respect for the rule of law and anti-corruption measures.
Read at www.theguardian.com
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