The European Parliament will vote today to grant Ukraine a 35 billion euro loan
Kyiv • UNN
The European Parliament will consider a proposal for a €35 billion loan to Ukraine from the proceeds of frozen Russian assets. This is part of a $50 billion G7 package to support Ukraine.
Today, October 22, the European Parliament will consider the European Commission's proposal for the European share of the Group of Seven's $50 billion loan to Ukraine, which will be paid from the proceeds of Russian frozen assets. This was reported by the press service of the European Parliament, according to UNN.
Starting at 9:00 a.m., the plenary will consider the EU's plan to provide Ukraine with up to 35 billion euros to protect it from Russia. The loan is part of a G7 package to be paid from frozen assets of the Russian Central Bank. The vote will take place at noon
The United Kingdom announced on October 22 that it is providing Ukraine with a 2.26 billion pound military loan to strengthen its defense.
Recall
On October 14, MEPs on trade approved a financial aid package to support Ukraine, including an exceptional macro-financial assistance (MFA) loan of up to €35 billion.
According to the G7 plan, windfall profits generated by the assets will be used to gradually repay the amount of money each ally will lend to Ukraine. If these profits are no longer available, the West will have to pay the bills.
Initially, it was assumed that the EU and the US would contribute to the loan in equal installments of 18 billion euros (20 billion US dollars) each, but the lack of specifics from Washington forced Brussels to sharply increase its share to 35 billion euros.
The bloc's contribution could be reduced if the United States, Canada, the United Kingdom, and Japan end up making larger pledges. Australia, which is not part of the G7, could also contribute.
