European Parliament approves €35B in loans for Ukraine

European Parliament MEPs on trade approved a financial aid package to support Ukraine, including an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion, Report informs via UNN.

On Monday, MEPs in the European Parliament's Trade Committee voted to support a loan of up to €35 billion to Ukraine as the EU's contribution to the G7 support initiative.

The Trade Committee voted 31 in favor, 4 against, and no abstentions in favor of the Commission's proposal to support Ukraine with an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion.

This is the EU's contribution as part of a G7 initiative to support Ukraine with up to $50 billion (approximately €45 billion) to meet Ukraine's urgent financing needs in the face of Russia's brutal war of aggression.