European Commission Sends Ukraine Another €3.47 Billion for Drones and Missiles

The European Commission has transferred another tranche of the EU's concessional loan to Ukraine, this time worth €3.47 billion. The funds are earmarked for the purchase of drones and missiles to help defend Ukrainian airspace, the Commission announced.

Brussels had already sent Kyiv €3.9 billion (94.4 billion CZK) on 30 June, followed by a further €1.1 billion (26.6 billion CZK) specifically for drone procurement on 15 July. The total EU loan to Ukraine amounts to €90 billion (2.2 trillion CZK), with disbursements split between this year and next.

"Today we are investing another €3.47 billion to help protect Ukraine's skies," the head of the EU's executive body said, adding that Ukraine and the European Union are increasingly integrating their defence industries: "We are combining Europe's industrial strength with Ukraine's unmatched capacity for innovation."

According to the Commission, the new tranche will go towards financing additional drones — including long-range jet-powered unmanned aircraft — as well as missiles and Gripen fighter jets. The aim is to help Ukraine quickly obtain critically needed equipment.

The decision to grant the EU loan was made this year by the bloc's presidents and prime ministers, after leaders failed to agree at last December's summit on funding the aid through frozen Russian assets. Originally, the entire European Union was meant to act as guarantor for the loan, but the Czech Republic, Slovakia and Hungary refused to take part in these guarantees.

The EU loan is meant to help Ukraine cope with urgent financial needs amid an ongoing Russian invasion that has now lasted more than four years. Two-thirds of the funds are to cover the country's defence and military spending, while the remaining third will support Ukraine's state budget, allowing it to press ahead with reforms and modernisation. This year, €45 billion is due to be disbursed, with the remaining half of the loan planned for next year.

According to the European Commission, as part of a €60 billion defence package, €28.3 billion is set to be paid out this year to support Ukraine's defence-industrial capacity. The Commission also stressed that it is vetting all contracts linked to Kyiv's requests, to ensure the financial assistance is used only for procurement approved by the Commission and the EU member states.

Source: novinky.cz