EU Offers Indian Rupee 35 Billion Loan to Aid in Ukraine Reconstruction

The current conflict between Ukraine and Russia began in February 2022, and the EU has pledged to grant the nation up to ?35 billion, or around $39 billion, to aid in its recovery. The G7, a coalition of the greatest economies in the world, is arranging a bigger package of financial assistance, including this loan, to help Ukraine through this trying period.

G7 Loan Agreement for Ukraine

• G7 leaders to offer Ukraine $50 billion for economic and infrastructure rebuilding. 
• Paid out of interest on Russian central bank assets that have been frozen.
• Setup issues on the funding system leading to delay in the distribution of loans

Old EU Support for Ukraine

• The EU, has given Ukraine more than 118 billion euros (132 billion dollars) since the war started.
• It matters because of Russia's persistent attack.
• The State Budget of Ukraine will be better off with the loan and is a flexible financial instrument.

Rebuilding Ukraine Panel

• Priorities are rebuilding energy facilities, building bomb shelters, fixing schools and acquiring military resources.

EU Overview

• Established 1957, 27 member nations (including 19 using euro)
• Belgium: Known for its Common Agricultural Policy and noble peace prize in 2012.
• The European Court of Justice secures the constant application of EU-laws.