EU to loan €35b to Ukraine

European Union (EU) will provide Ukraine with a new loan of up to 35 billion euros, European Commission President Ursula von der Leyen said Friday, reported Xinhua.

The funds will be provided as part of a Group of Seven (G7) pledge, von der Leyen, who is on a visit to Ukraine, wrote on social platform X, formerly Twitter.

"This is another major EU contribution to Ukraine's recovery," said von der Leyen.

Ukrainian President Volodymyr Zelensky said that his country will use the funds primarily for energy and defense, the Interfax-Ukraine news agency reported.

The money will be used for building bomb shelters and purchasing weapons, including those produced domestically, Zelensky said.

Von der Leyen arrived in Kiev earlier in the day to discuss the EU's continued support with Ukrainian authorities.