EU countries agree on billions in aid to Kiev

TT

Published 15.48

 

Ukrainian President Volodymyr Zelensky and NATO chief Mark Rutte at a memorial monument in Kiev on Tuesday. Archive photo. Photo: Ukrainian Presidential Office/AP/TT

EU member states have now finally agreed on their 90 billion euro loan to Ukraine.

The agreement was reached at an ambassadors' meeting in Brussels on Wednesday. This comes after more than a month of fine-tuning the details since the heads of state and government decided to use the loan model at the EU summit in December.

“Today’s agreement shows that EU countries continue to act decisively in support of Ukraine and its people. . . Together with the European Parliament, I look forward to finalizing the legal texts that will allow this money to be distributed,” Makis Keravnos, Minister of Finance of the Council of Ministers’ Presidency of Cyprus, wrote in a statement.

The 90 billion – equivalent to 953 billion Swedish kronor – will be used for both military and civilian purposes and will help keep Ukraine going for the next two years.