BRUSSELS, January 10, 2025 (Hina) – The European Commission on Friday paid Ukraine the first tranche of a 3 billion euro loan that will be repaid from the proceeds of frozen Russian assets.

This is a loan of a total of 45 billion euros agreed upon by the G7 group, and the European Union is participating with 18.1 billion euros.

“Today we are paying Ukraine three billion euros. This is the first payment in the European Union’s share of the G7 loan,” European Commission President Ursula von der Leyen announced on X.

The G7 group agreed at the end of October on a loan to Ukraine in the amount of 50 billion US dollars (about 45 billion euros). The United States paid around 20 billion euros in December, and the remaining part is to be paid by the United Kingdom, Japan, and Canada.

The loan will be repaid from the proceeds of frozen Russian assets.

The Commission emphasizes that this macroeconomic assistance is crucial for addressing Ukraine’s urgent budgetary needs, which have significantly increased in light of Russia’s intensified and prolonged war of aggression.

“This loan will ensure macroeconomic stability and rebuild critical infrastructure destroyed by Russia, such as energy infrastructure, water supply systems, transport networks, roads, and bridges,” the Commission’s statement said. (January 10, 2025)