War-Affected Economy, Ukraine Applies For $500 Million Loan To Israel

War-Affected Economy, Ukraine Applies For $500 Million Loan To Israel
Ukraine Applies For $500 Million Loan To Israel

International Military - Ukraine has asked Israel for a $500 million loan as its economy continues to be affected by the war. The report was disclosed by Israel Hayom. Israel has confirmed the report and said it was examining the matter.

The request was made by Ukrainian Prime Minister Denys Shmyhal. In a letter sent about two weeks ago, the official asked for a loan to help cope with the disastrous impact of the war on the Ukrainian economy.

Read Also: Ukraine Has Lost $600 Billion Dollars Since 99 Days Beginning of the War

According to official statistics, Ukraine's gross domestic product (GDP) fell 15.1% in the first quarter of 2022 compared to the same period last year. According to the International Monetary Fund (IMF), the Ukrainian economy will shrink a further 30-45% by the end of the year.

"Many countries in the world have allocated loans to Ukraine," Shimon Briman, an expert on Israel-Ukraine relations, told Israel Hayom. "For example, Japan has allocated USD600 million with a loan term of 30 years, with a grace period of 10 years, and annual interest is only 1%.

Luxembourg has allocated 250 million euros in loans, Germany 300 million euros and Canada 800 million euros," Briman explained. Briman explained, "If Israel agrees to Ukraine's loan request, the Jewish state will not only assist 40 million people in their just struggle for survival. , but also shows that they chose the right side in the fight against dictatorship and barbarism."

Read Also: Financial Constraints, Ukrainian President Demands Europe to Send 7 Billion Dollars Every Month

The Israeli Prime Minister's Office said in a statement that Ukraine's Ambassador to Israel Yevgen Korniychuk made the request on behalf of Shmyhal. The Ambassador was notified that the request had been received and was being reviewed.

Meanwhile, Ukraine said Tuesday that its troops were still holding out inside Sievierodonetsk and trying to evacuate civilians after Russia destroyed the last bridge to the devastated eastern city in a potential turning point in one of the bloodiest fighting in the war. that.

Russia said it would give Ukrainian fighters hiding in a chemical factory inside the city an opportunity to surrender on Wednesday morning (15/6/2022). "Fighters must stop their senseless resistance and lay down their weapons from 8 a.m. Moscow time," Interfax news agency quoted Mikhail Mizintsev, head of Russia's National Defense Management Center as saying.

Read Also: Ammunition Depleted, Ukraine Relies On Weapons Aid From The West to Fight Russia

The mayor of Ukraine, Oleksandr Stryuk, said: "The situation is very difficult but there is communication with the city even though the last bridge over the Siverskyi Donets river has been destroyed. Russian troops tried to storm the city, but the military held firm." Ukraine says more than 500 civilians are trapped inside Azot, the chemical plant where its troops have been fighting Russian bombing and attacks for weeks.

“Evacuations are still being carried out every minute when there is a pause and there is a possibility of transportation. But these are separate evacuations, carried out one at a time, and every possibility is taken," said Stryuk. Regional governor Serhiy Gaidai said, "The shooting was so intense that people couldn't take it anymore in shelters, their psychological condition was on the line.

The last few days, the population is finally ready to leave." Both sides have claimed heavy casualties in the battle for the city, Russia's main target in its battles in the east of the country after failing to capture the capital Kiev in March.

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Ukraine still controls Lysychansk, the sister city of Sievierodonetsk on higher ground on the opposite bank. But with all bridges now cut, his troops acknowledged the threat they could be besieged in Sievierodonetsk.

Russia's allied forces say any Ukrainian soldiers left behind must surrender or die. Damien Megrou, a spokesman for the foreign volunteer unit that helps defend Sievierodonetsk, said, "There is a risk of leaving large pockets of Ukrainian defenders cut off from the rest of the Ukrainian forces as in Mariupol." Mariupol is a Black Sea port that surrendered last month after months of a Russian siege.

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