European Commission President Ursula von der Leyen announced a loan of up to 35 billion euros ($39 billion) for Ukraine during a visit to Kyiv on Friday, saying it was needed to defend the country against Russian attacks and help it get through the winter, Reuters reports.
Standing beside her at a joint press conference, Zelenskiy said the loan would be used for energy, air defences and arms procurement, and urged allies to approve by the end of the year a “victory plan” he has drawn up.
Visiting Kyiv at the start of her second term at the helm of the European Union’s executive branch, von der Leyen said Ukraine needed the 27-nation bloc’s continued support in the face of Russian attacks.
The loan is part of a wider plan among countries in the Group of Seven industrialised powers to raise funds using proceeds from Russian assets frozen to sanction Moscow for invading its neighbour.
“We will spend the money, these 35 billion, primarily on energy, on defence, as well as on bomb shelters for children in schools, nurseries and universities – this is a big deficit for us,” Zelenskiy said in front of the Ukrainian and EU flags.
“And on weapons, primarily those produced domestically, drones, missiles. Today, our long-range drones strike the enemy and they are cheaper than those (made by) our partners.”