Zelenskyy Welcomes Approval of 90 Billion Euro Loan for Ukraine

Kathmandu. Ukrainian President Volodymyr Zelenskyy on Thursday welcomed the approval of a 90 billion euro ($105 billion) loan for Ukraine.

The loan had previously been stalled due to the firm stance taken by outgoing Hungarian Prime Minister Viktor Orban.

“Today is an important day for our defense and our relationship with the European Union. The loan, set as European support for Ukraine, has been unlocked at 90 billion euros over two years,” Zelenskyy said on X.

“It is significant that after more than four years of full-scale war, Ukraine is securing this level of financial certainty,” he added. He requested that the first installment be disbursed by May or June.

Zelenskyy stated, “Ukraine will spend the money on weapons production, purchasing necessary weapons from partners that are not yet produced in Ukraine, and rebuilding Ukraine's energy sector and critical infrastructure for the upcoming winter.”

Russia had destroyed Ukraine's power grid and energy production sites throughout the winter. Four years of invasion forced millions to live in cold and darkness during the harshest winter conditions. Temperatures in some of Ukraine's cities and villages can reach as low as minus 20 degrees Celsius.

“These resources will help us maintain our electricity system, protect critical infrastructure, and accelerate reconstruction,” Ukrainian Prime Minister Denys Shmyhal wrote on X.