The European Commission announced €2.3 billion in financial support to help Ukraine rebuild despite ongoing Russian attacks.
This aid includes €1.8 billion in loan guarantees and €580 million in grants provided by international and bilateral public financial institutions, EU Commission President Ursula von der Leyen made the annoucement at a conference in Rome focused on Ukraine’s recovery plans.
Meanwhile, Kyiv faced a heavy barrage of hundreds of Russian drones (400) and more than a dozen missiles (18), resulting in two fatalities during the second major airstrike in two days.
The €2.3 billion forms part of the broader Ukraine Investment Framework, which von der Leyen said could mobilize up to €10 billion in total investments for the country’s rebuilding efforts.
Additionally, the Commission announced the launch of a new equity fund dedicated to Ukraine’s reconstruction, supported by the European Investment Bank alongside France, Germany, Italy, and Poland.
Starting with an initial capital of €220 million, this fund aims to raise €500 million by 2026, providing crucial financial resources to fuel Ukraine’s recovery.
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Germany is funding the purchase of 50,000 attack drones for Ukraine. The move marks one of the largest publicly reported drone procurement programmes by a Western government since the start of Russia's full-scale invasion.
The European Union's General Court has dismissed Ryanair's appeals against an Italian state aid scheme approved by the European Commission in 2020 to support airlines during the COVID-19 pandemic.
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Iran is increasingly relying on its northern ports for imports, with officials saying more than 30% of goods now enter the country via Russia and the Caspian Sea rather than through the Indian Ocean.
Britain's new Prime Minister Andy Burnham has chaired his first Cabinet meeting, pledging to make the cost of living his government's central priority while signalling a broader effort to restore confidence in Britain's government and strengthen its international standing.
Russian strikes hit multiple locations across Ukraine, setting a large hardware store ablaze in the northeastern city of Sumy and damaging a residential building in the country's east, as fighting between the two sides continued to intensify.
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