EU pledges $105B loan for Ukraine as Russia targets Odesa
December 20 (UPI) — European Union officials have agreed to lend Ukraine $105 billion to help it stay financially afloat over the next two years amid Russian attacks in the Odessa region.
The money was used in lieu of an allocation to Ukraine from approximately $246 billion of frozen Russian assets held in Belgium. BBC reported.
The funds are equal to about two-thirds of what Ukraine will need to pay its bills and give it a stronger bargaining position as peace talks continue aimed at ending the Ukrainian War, which began when Russia invaded its neighbor on February 24, 2022. New York Times.
Ukrainian President Volodymyr Zelensky said the loan was interest-free and could only be repaid if Russia paid compensation to Ukraine.
News of the EU allocation came after a Russian missile attack near Odesa on Friday night that killed eight people and injured 27 others. CNN reported.
Russian missiles hit a port facility in Pivdenne, and some of the dead and injured were on a bus that was hit during the attack.
The missile strikes were part of an ongoing air offensive against the Odesa region over the past nine days, causing a power outage in Odesa, which is located on the Black Sea and about 300 miles south of Kiev.
Two bridges in southern and northern Odesa were destroyed in recent attacks and are being repaired.
Russian forces are also targeting energy infrastructure in Ukraine and have used drones and missiles to damage or destroy several targets in recent months.
