EU speeds up EUR 90B loan to support Ukraine’s air defense, energy – Costa

European Council President Antonio Costa announced plans for a €90 billion loan to bolster Ukraine's air defense, energy infrastructure, and overall economic situation. During a meeting with President Volodymyr Zelensky, Costa emphasized the EU's unwavering support for Ukraine since the start of Russia's war of aggression. He further praised Ukraine's progress towards accession to the European Union, despite facing significant challenges.

Costa also met with Prime Minister Sergii Koretskyi to discuss Ukraine's economic situation and the EU accession process. The rollout of the €90 billion loan is intended to address Ukraine's energy needs and preparations for the upcoming winter, as well as its defense and other budgetary requirements. Costa highlighted the Coalition of the Willing Summit and stressed the importance of coordination within the coalition to provide Ukraine with the comprehensive support necessary to prepare for the winter.

Furthermore, Costa addressed concerns about the pressure on Russia's economy and its shadow fleet, emphasizing that diplomacy should prevail over escalation. He also addressed the security situation in the Black Sea, calling for Russia to allow Ukrainian grain to reach the rest of the world, as failing to do so puts global food security at risk.

Costa paid tribute to all Ukrainians defending their homeland and vowed that Ukraine's enemies would not prevail. He accepted the Order of Europe from Ukraine, describing it as a powerful symbol of the unity that binds them together. Costa expressed his honor in accepting the award on behalf of EU leaders and the millions of citizens across Europe who stand in solidarity with Ukraine.