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EU Releases Final €5.1 Billion Loan to Support Ukraine

EU Releases Final €5.1 Billion Loan to Support Ukraine

December 21, 2023
EU Releases Final €5.1 Billion Loan to Support Ukraine

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European Commission President Ursula von der Leyen announced on Thursday that the final installment of a €5.1 billion loan (approximately $6.1 billion) has been provided as part of an €18 billion support program for Ukraine, agreed upon in December last year.

The continuation of the European Union’s support for Ukraine remains unclear following Hungarian Prime Minister Viktor Orban’s objection last week to a new €50 billion aid program.

A special European summit is scheduled for February 1st to discuss the future of Ukraine’s support. However, other leaders have stated that if a solution is not reached with Hungary, they will proceed independently.

The EU funds will enable Ukraine to continue paying salaries and pensions. Additionally, these funds can be used for running hospitals and schools, providing emergency accommodation for displaced people, and restoring infrastructure damaged in the conflict, such as power lines, water systems, roads, and bridges.

The military aid provided to Ukraine by European countries has been diverse and significant. Various types of equipment and financial assistance have been offered throughout the ongoing conflict.

Countries like Australia have contributed by supplying items such as loitering munitions, reconnaissance UAVs, and radar systems. They’ve also provided small arms, ammunition, demining equipment, and training for Ukrainian soldiers. Financial aid has also been a part of Australia’s support, with contributions to NATO trust funds and direct support to Ukraine.

Belgium, for example, has supplied infantry mobility vehicles, armored personnel carriers, jet aircraft training, surface-to-air missiles, and anti-tank guided missiles. Their aid package also includes heavy mortars, unmanned aerial vehicles, anti-tank weapons, small arms, and various types of ammunition. Miscellaneous equipment like tactical decoys, generators, and sleeping bags have also been part of the aid.

The Netherlands and other European countries have focused on accelerating cooperation and maximizing concrete deliveries, particularly in ammunition, training, and maintenance. The Dutch Defense Minister, Kajsa Ollongren, highlighted the importance of steadfast military support in making a difference on the battlefield.

However, there have been challenges and debates within Europe regarding the extent of military aid. For instance, Germany and France have shown some reluctance to significantly boost their donations. German Defense Minister Christine Lambrecht mentioned depleted stocks due to years of underinvestment as a reason for holding back weapons. Similarly, French President Emmanuel Macron has emphasized focusing on avoiding escalation and not descending into a battle of rankings with other countries regarding military support.

Tags: EUloanUkraine
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