EU to Send First Installment of Ukraine Loan

The European Union will transfer the first tranche of its promised €90bn ($104bn) loan to Ukraine on Thursday, European Commission President Ursula von der Leyen announced at the Ukraine Recovery Conference in Gdansk, Poland.

The first installment will amount to €3.2bn ($3.7bn).

Von der Leyen also said an EU-backed investment fund for Ukraine’s reconstruction, supported by France, Germany and Poland, is ready to begin operating.

According to the Commission president, the fund could mobilize around €500m ($580m) by the end of this year.

(reuters, bak)