EU heads agree aid for Ukraine

EUROPEAN Union leaders agreed yesterday to provide a massive interest-free loan to Ukraine to meet its military and economic needs for the next two years, but they failed to bridge differences with Belgium that would have allowed them to use frozen Russian assets to raise the funds.

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After almost four years of war, the International Monetary Fund estimates that Ukraine will need 137 billion euros (£120.7 billion) in 2026 and 2027. The government in Kyiv is on the verge of bankruptcy, and desperately needs the money by spring.