Ukrainian President Volodymyr Zelensky has announced that the first tranche of a €90 billion loan from the European Union will be directed towards domestic production of military equipment and energy security measures.
In a statement, Zelensky indicated that the funds would primarily support the development of drones and other military technologies. He emphasized the importance of enhancing Ukraine’s defense capabilities amid ongoing challenges.
Energy security was identified as the second key area for funding. Zelensky noted the necessity of safeguarding energy infrastructure ahead of the upcoming winter, stating that the government aims to maximize protective measures.
“In addition to local budgets, a portion of the funds will be allocated from the central budget. The financing will be partly sourced from these tranches of the €90 billion package. We expect to allocate several billion specifically for energy protection,” he explained.
The discussions regarding the allocation of these funds took place during meetings with European leaders in Cyprus.
Ukrainian President Volodymyr Zelensky has outlined plans for the initial use of a €90 billion EU loan, focusing on military production and energy security. The government aims to enhance defense capabilities and protect energy infrastructure ahead of winter.