EU loan for rebuild of Ukraine’s shattered power grid

by Pelican Press
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EU loan for rebuild of Ukraine’s shattered power grid

The European Union has pledged to lend Ukraine up to 35 billion euros ($A64 billion) as part of a loan package organised by the Group of Seven major industrial nations, as it seeks to help the country rebuild its economy and its war-shattered power grid.

G7 leaders agreed in June to engineer a $US50 billion loan to help Ukraine in its fight for survival. Interest earned on profits from Russia’s frozen central bank assets would be used as collateral, but progress in distributing the loans has been slow.



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