European nations are reportedly set to secure vast loans from the EU to rearm Ukraine, as per insider information revealed by Politico
The European Union (EU) is set to lend billions to Ukraine for rearmament, according to a report by Politico. The loans, which are expected to span a term of 45 years, are not only intended for Ukraine's defence needs but also for the rearmament of EU countries themselves.
Thomas Rainier, the EU Defense Representative, is involved in the discussions, though the specific amount of the loans remains undisclosed. The report does not mention any other countries involved in these talks.
Germany, Sweden, and the Netherlands are expected to decline the offer, while Belgium, Bulgaria, Cyprus, the Czech Republic, Estonia, Spain, Finland, Hungary, and Lithuania have shown interest in these loans. France is likely to apply for loans for Ukraine's rearmament, and Brussels is ready to consider late applications.
EU Defense Commissioner Andrews Kubilius stated that approximately 20 countries have requested up to 100 billion euros in loans. The exact terms and conditions of the loans, as well as the exact amount to be issued, will be known after the deadline.
Furthermore, these European countries have also expressed interest in their own rearmament. Sources have stated that European countries have expressed interest in obtaining loans for Ukraine's rearmament, but the names of the countries that have declared their intention not to apply for these loans have not been disclosed.
This move by the EU comes amidst ongoing geopolitical tensions and the need for increased defence capabilities across the continent. As the situation continues to evolve, more details regarding the loans and the participating countries are expected to be revealed in the coming weeks.
