The European Commission has announced the start of a loan program for Ukraine.

The European Commission has announced the issuance of a loan to Ukraine in the amount of 18.1 billion euros from macro-financial assistance. This amount will be covered by revenues from frozen Russian assets.

'The European Commission's decision to provide Ukraine with 18.1 billion euros comes at a critical moment. This demonstrates the EU's long-term commitment to support Ukraine in its fight for freedom,' said European Commission Commissioner for Economy and Productivity Valdis Dombrovskis.

This financial loan will help Ukraine address urgent financial problems and is the EU's contribution to the G7 countries' initiative to provide loans for Ukraine from revenues from frozen Russian assets. The total amount of loans secured by these assets is 45 billion euros.

The loan will be repaid in installments until 2025, with the first payment expected in January. This decision was made after the European Commission concluded that Ukraine had met all political conditions for receiving this amount.