EU to loan Ukraine $39bn to rebuild power grid destroyed in Russian attacks
Briefly

European Commission President Ursula von der Leyen has illustrated the bloc's commitment to supporting Ukraine amidst ongoing conflicts. She articulated, 'About half of Ukraine's energy infrastructure has been destroyed since Russia launched its full-scale invasion in 2022, and rolling electricity blackouts leave parts of the east in darkness for four hours at a time. Europe hopes to help supply about 25 percent of the 17 gigawatts (GW) of power that the country is likely to need this winter.'
As winter approaches, von der Leyen emphasized the urgency of the situation: 'We will lend our support on a range of subjects, including winter preparedness and defence.' This cooperation underlines the EU's broader strategy to fortify Ukraine's economy and energy resilience against relentless Russian aggression.
During her eighth visit to Kyiv, von der Leyen declared a significant loan, indicating, 'You will decide how best to use your funds.' This grants Ukraine autonomy to prioritize its reconstruction efforts, focusing on rebuilding energy infrastructure, enhancing defense capabilities, and supporting social needs.
In light of the agreement reached by the G7 nations, von der Leyen recounted, 'The leaders of the G7 agreed to finance a $50bn loan for Ukraine on the back of future profits from frozen Russian assets.' This collaborative approach signifies a collective international effort for Ukraine’s recovery.
Read at www.aljazeera.com
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