EU Boosts Ukraine's Defense with $4.6 Billion Aid on Defender's Day
Ukraine has received a significant financial boost from the European Union. On October 1, Ukrainian Prime Minister Yulia Svyrydenko announced that the country has secured a $4.6 billion macro-financial aid tranche from the EU. This assistance, part of the EU's ERA Loans mechanism, was symbolically granted on Ukraine's Defender's Day, acknowledging the country's ongoing defense efforts.
The funds, totaling $4.6 billion, are intended to bolster Ukraine's defense and provide long-term support. They will be used to save lives, help rebuild cities, and solidify Ukraine's European future. This substantial aid package is in addition to the EU's decision to finance drones for Ukraine with a fund of 2.3 billion dollars. This marks the largest step taken by the EU to strengthen Kyiv's combat power with unmanned aerial systems, as part of a broader 6 billion euro drone alliance.
The funds for these initiatives are secured from frozen assets of Russia's Central Bank in the EU. Ukrainian Prime Minister Yulia Svyrydenko expressed gratitude to European Commission President Ursula von der Leyen and EU Commissioner for Economy and Productivity Valdis Dombrovskis for their leadership in facilitating this assistance.
The EU's financial support, totaling over $7 billion, is a testament to the union's commitment to aiding Ukraine in its defense efforts and rebuilding process. These funds, secured from frozen Russian assets, will help Ukraine save lives, rebuild infrastructure, and solidify its European future.
