Fri Sep 20 12:37:03 UTC 2024: ## EU to Loan Ukraine €35 Billion, Backed by Frozen Russian Assets

Kyiv, Ukraine – The European Union (EU) has announced plans to lend Ukraine €35 billion ($39 billion) in a move aimed at bolstering the war-torn country’s economy. The loan, which will be backed by frozen Russian assets within the bloc, is expected to be disbursed quickly, according to EU Commission President Ursula von der Leyen.

The announcement was made during a joint press conference with Ukrainian President Volodymyr Zelensky on Friday, September 20th. Zelensky, meanwhile, revealed that he plans to present his “victory plan” for ending the war with Russia to US President Joe Biden during his upcoming trip to Washington.

Zelensky expressed hope for Biden’s support of the plan, which aims to deliver decisive actions between October and December. He believes this timeline will enable the plan to be successful.

The “victory plan” is expected to be presented following a summer of intense fighting, with Russia making gains in eastern Ukraine while Kyiv maintains control over parts of Russia’s Kursk region. Zelensky’s visit to Washington will also include meetings with presidential candidate Kamala Harris and her Republican opponent, Donald Trump.

Furthermore, Zelensky announced plans to host another international peace summit in November to further outline his vision for ending the conflict. The summit will extend an invitation to Russia, despite Russian President Vladimir Putin’s previous stance that Moscow would only engage in peace talks if Ukraine cedes four of its regions.

Read More