Brussels: The European Union is set to grant 1 billion Euros in additional financial aid to Ukraine in the form of a loan, which will be repaid using revenues generated from frozen Russian assets within the EU. European Commission President Ursula von der Leyen announced today that this financial support reinforces the EU’s commitment to backing Ukraine.

According to Qatar News Agency, von der Leyen emphasized that the aid will help sustain Ukraine’s economy and contribute to rebuilding key infrastructure damaged by the war, reaffirming that the EU will continue its support for as long as necessary.

This funding is part of a G7 initiative aimed at providing 45 billion Euros in financial assistance to Ukraine by 2027.