EU leaders on Thursday sealed a deal to provide Ukraine with 50 billion euros ($54 million) to shore up its war-ravaged economy after Hungary dropped weeks of…
EU leaders on Thursday sealed a deal to provide Ukraine with 50 billion euros ($54 million) to shore up its war-ravaged economy after Hungary dropped weeks of threats to veto the measure.
The aid package — about two-thirds loans and one-third grants to be paid out over a four-year period — is not intended to fund arms and ammunition, which fall under a separate EU plan. Instead, it aims to stabilize Ukraine’s economy after nearly two years of fighting, pay for rebuilding, and set the country up for future EU membership.
The package will help Kyiv plug budget gaps while avoiding the skyrocketing inflation seen in the first months after Russia’s full-scale invasion in February 2022. Ukraine lost a third of its economic output to wartime destruction and occupation by Moscow, which took over the main heavy industry hubs in the east.
