💶🇪🇺 EU approves €90 billion loan to support Ukraine
Oneliner
The EU has approved a €90 billion loan package for Ukraine, aimed at supporting its defense and public services over the next two years. Of this amount, €60 billion will be allocated for military needs, while €30 billion will help maintain essential public services. Hungary, Slovakia, and the Czech Republic have secured exemptions from financial contributions. The European Parliament is expected to fast-track the approval process, reflecting the urgent financial needs of Ukraine amid ongoing conflict.
Key points
- The EU has finalized a €90 billion loan package for Ukraine, focusing on defense and public services.
- Two-thirds of the funds will be allocated for military needs, while €30 billion will support essential public services.
- Hungary, Slovakia, and the Czech Republic secured exemptions from financial contributions.
- The European Parliament is expected to fast-track the approval process amid urgent financial needs.
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Facts
- The loan package totals €90 billion, with €60 billion for defense and €30 billion for public services.
- Hungary, Slovakia, and the Czech Republic will not contribute financially to the loan.
- The European Parliament is expected to vote on the loan package soon.
- The loan is part of a broader EU strategy to support Ukraine amid ongoing conflict with Russia.
Quotes
- This financial support is crucial as Ukraine continues to navigate the ongoing conflict with Russia. — EU Official
- We need to ensure that EU taxpayer money supports EU factories. — French Official
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