BRUSSELS, May 11: The European union will disburse the first tranche of its 90 billion ($105.7 billion) loan package to Ukraine next week, EU Commissioner for Enlargement Marta Kos said Monday ahead of the EU Foreign Affairs Council meeting in Brussels.
“We are on a good path, and I hope that next week we will be able to disburse the first payments,” Kos said.
EU member states formally approved the 90 billion loan package for Ukraine on April 23.
European Council President Antonio Costa previously stated that Ukraine would only need to repay the loan if it receives reparations payments from Russia.
The measures were signed off after Hungary and Slovakia dropped objections when Ukraine restarted oil flows following repairs to the damaged Druzhba pipeline.
“Deadlock over,” EU foreign policy chief Kaja Kallas posted online. “Russia’s war economy is under growing strain, while Ukraine is getting a major boost.”
(UNI)
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