WARSAW, Poland -- The European Union has disbursed the first 3 billion-euro ($3.4 billion) tranche of a 90 billion-euro ($101 billion) loan to Ukraine, according to an announcement made by the country's prime minister. The disbursement occurred during a conference in Poland focused on Ukraine's post-war recovery.
Key European leaders, including German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen, attended the conference. The event served as both a fundraising forum and a signal of sustained support from Ukraine's Western allies.
Ursula von der Leyen affirmed the EU's financial commitment to Ukraine, which recently began EU membership negotiations on June 15. Since Russia's full-scale invasion began in February 2022, EU countries have provided approximately 200 billion euros ($225 billion) in economic, financial, and military aid. The EU has also approved an additional 90 billion euros ($101 billion) over the next two years through the support loan.
The EU is also preparing to release a second tranche of 6 billion euros ($6.7 billion) dedicated to drone production in the coming days. Separately, European leaders announced the launch of a European equity fund for investments in Ukraine's strategic economic sectors. This fund, initiated at a previous recovery conference in Rome, has an initial public package of up to 220 million euros and is supported by the EU, Germany, Poland, Italy, and France.
Ukrainian Prime Minister Yulia Svyrydenko stated that her delegation planned to sign 160 deals totaling over 10 billion euros ($11.2 billion) at the conference. Svyrydenko led the Ukrainian delegation following the withdrawal of President Volodymyr Zelenskyy, which was reportedly linked to a dispute with Polish President Karol Nawrocki concerning World War II historical events.
Polish Prime Minister Donald Tusk commented that Zelenskyy's absence might help de-escalate tensions. Tusk emphasized that building the future requires truth, mutual respect, and understanding of the past.