EU approves $106B Ukraine loan

European leaders gathered in Cyprus to finalize a massive €90 billion financial lifeline for Ukraine, marking a significant victory for President Volodymyr Zelensky.

The deal was made possible after a breakthrough in negotiations with Hungary, which had previously blocked the aid.

The funding will be disbursed in tranches starting in May, with a significant portion dedicated to military equipment and drone technology.

While the loan provides essential stability, EU officials remain cautious about fast-tracking Ukraine's full membership in the bloc.