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Photo taken on Feb. 27, 2022 shows smoke rising in the sky in Kiev, Ukraine. (Xinhua/Lu Jinbo)

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EU to disburse first 9.1 bln euros under Ukraine loan package

Speaking at the Commission’s daily press briefing, Ujvari said the funds will be split to cover critical military and economic needs, with 5.9 billion euros earmarked for defense, and 3.2 billion euros for direct budget support.

BRUSSELS, June 8 (Xinhua) — The European Union (EU) is preparing to disburse a first tranche of 9.1 billion euros (10.5 billion U.S. dollars) to Ukraine in June as part of a landmark 90-billion-euro (103.8 billion dollars) financial assistance package, European Commission spokesman Balazs Ujvari said on Monday.

Speaking at the Commission’s daily press briefing, Ujvari said the funds will be split to cover critical military and economic needs, with 5.9 billion euros (6.8 billion dollars) earmarked for defense, and 3.2 billion euros (3.7 billion dollars) for direct budget support.

The final technical details are being worked out, said Ujvari.

On the same day, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas said to the press during an informal meeting of EU defence ministers in Nicosia, Cyprus, that the 5.9 billion euros (6.8 billion dollars) to be released this month would be used for drones.

Separately, the EU announced the disbursement of 2.8 billion euros (3.2 billion dollars) under the Ukraine Facility to help meet Ukraine’s financing needs and ensure the continued functioning of its public administration.

The EU formally approved the 90-billion-euro loan package for Ukraine in April, aiming to provide fiscal and military support to the country in 2026 and 2027.

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