Ukraine Secures €90 Billion EU Loan to Enhance Defense Amid Ongoing Conflict
Ukraine's parliament has ratified a significant loan agreement with the European Union, securing €90 billion in financing aimed at bolstering the country's defense capabilities and resilience amidst its ongoing conflict with Russia. The ratification, which saw overwhelming support with 298 votes, follows the EU's final approval after Hungary lifted its veto. This financial package is set to be disbursed in two phases, with €45 billion expected this year and the remainder in 2027. Ukrainian President Volodymyr Zelenskiy expressed gratitude towards lawmakers and European partners, emphasizing the importance of this financial support in strengthening Ukraine's resilience. The funds are earmarked for national defense, energy resilience, and covering the budget deficit, with a significant portion allocated to defense efforts.