The European Union has formally approved a €90 billion loan to Ukraine and new sanctions against Russia, ahead of an informal summit in Cyprus.
The loan, which is set to cover two-thirds of Ukraine's needs for the next two years, will be disbursed with half of the funds allocated this year and the remainder in 2027.
The bulk of the loan is earmarked for military spending, with around €17 billion each year destined for general budget needs such as health and education.
EU leaders will also discuss the war in the Middle East, energy measures, and the EU's next long-term budget during the Cyprus summit.
