EU Trade Committee approves €35bn loan for Ukraine from frozen Russian assets, part of $50bn G7 initiative.

The European Union's Trade Committee has approved a €35 billion loan for Ukraine, funded by frozen Russian Central Bank assets, as part of a G7 initiative totaling $50 billion. The loan allows Ukraine flexibility in fund allocation and is contingent on its commitment to democratic reforms and human rights. The European Parliament will vote on the proposal soon, with potential disbursement by the end of 2024. This move underscores the EU's support for Ukraine amid ongoing conflict.

October 14, 2024
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