Zelenskyy outlines details of first €90 billion EU tranche

Ukrainian President Volodymyr Zelenskyy has outlined how the first tranche of the €90 billion EU loan to Ukraine will be used.

Source: Zelenskyy during a press conference with Moldovan President Maia Sandu on 26 April, as reported by European Pravda

Details: Zelenskyy said Ukraine intends to direct the first tranche "towards domestic production for Ukraine's defence".

He said that it will also cover the energy sector.

"We need to protect everything we can, everything we have time for. We must do this to the fullest extent possible and prepare for winter. For this, in addition to local budgets, there is a portion we will be able to allocate from the central budget," he said.

Zelenskyy expects "several billion" to be allocated to energy protection.

Background:

• Earlier, European Pravda learned that the first tranche from the "military" portion of the €90 billion EU loan will amount to €6 billion and is expected to reach Ukraine by June at the latest.
• The first defence tranche will be used to procure drones manufactured in Ukraine. The schedule for subsequent disbursements from the "military" portion has not yet been approved, but they are expected to be delivered more quickly. According to European Pravda, the next package may include ammunition, drones and air defence systems.

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