EU pledges loans to Ukraine to help rebuild economy and power grid

Ukrainian president Volodymyr Zelensky and European Commission president Ursula von der Leyen (Efrem Lukatsky/AP)

The European Union has pledged to lend Ukraine up to 35 billion euro (£29 billion) as part of a loan package organised by the Group of Seven major industrial nations, as it seeks to help the country repair and reconnect its war-shattered power grid.

“You will decide how best to use your funds,” European Commission president Ursula von der Leyen told President Vlodymyr Zelensky in Kyiv.