EU leaders meet to discuss major loan package for Ukraine

Damage caused by Russian bombardment in the Donetsk region frontline town of Kostyantynivka. Pic/AFP

European Union (EU) leaders are gathering on Thursday for a summit aimed at agreeing on a massive loan to cover Ukraine's military and other financial needs for the next two years. The leaders will also discuss migration, the bloc's enlargement policy, trade, and economies, but working out how to fund most of the 137 billion euros ($160 billion) the International Monetary Fund says war-ravaged Ukraine needs is top priority.

"It is up to us to choose how we fund Ukraine's fight. We know the urgency. It is acute. We all feel it. We all see it," European Commission President Ursula von der Leyen said on the eve of the summit.

European Council President Antonio Costa, who is chairing Thursday's meeting in Brussels, has vowed to keep leaders negotiating until an agreement is reached, even if it takes days.

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