Ukraine Secures $106B EU Loan, Boosts War Effort

0:00It's April 23rd. You're listening to Canada News today, AI-powered local news. Ukraine just scored a massive 90 billion euro loan from the European Union worth about $106 billion to keep its war machine running strong this year. The package got the green light on Thursday after months of drama, giving Kiev a real shot in the arm for defense and government spending. Earlier this week, President Volodymyr Zelensky announced repairs on the Ukrainian stretch of the Druzebio pipeline, restarting oil flow to Slovakia, and Hungary. That move cleared the last hurdle as those countries have been blocking the deal until supplies resumed. This cash hits at a perfect time, with the International Monetary Fund pegging Ukraine's funding gap at around 136 billion euros. Over the next two years, half the loan, 45 billion euros, flows in for the rest of this year, and the other half covers all of 2027. About a third goes straight to the budget, while the rest beef subweapons, buys and homegrown

1:04arms production. The hold-up stem from EU infighting, especially from Hungary's Viktor Orban, seen as Russia's buddy in the block. He lost his election earlier this month, and the pipeline spat damaged in a Russian strike back in late January, dragged things out until now. Ukraine won't start paying back until Russia coughs up war reparations, and the EU's borrowing the funds themselves to avoid risks with frozen Russian assets. This lifeline keeps Ukraine in the fight, reshaping the battlefield balance as the war grinds on.