EU Approves $106B Loan for Ukraine

The loan is intended to help Kyiv meet its military and economic needs as it continues to resist the Russian invasion.

President Volodymyr Zelenskyy welcomed the 'strong and fundamental decision,' urging that the first funds be disbursed by early summer.

One third of the loan is earmarked for the national budget, while the remaining two thirds will fund defense, specifically the production of interceptor drones.

The deal also includes a new package of sanctions against Russia, which Moscow has already denounced as 'unlawful.'