All eyes were on Brussels as EU leaders met for a make-or-break summit  to find a way to lend billions of euros to Ukraine. But as Belgium pushed back against the use of frozen Russian assets, demanding guarantees against potential repercussions from Russia, the EU settled on another plan: a €90 billion loan to Ukraine, which will only have to be repaid one Russia pays reparations.

EU leaders decided to borrow cash rather than deploying frozen Russian assets. Read more at straitstimes.com. Read more at straitstimes.com.

NEW YORK/LONDON, Dec 19 - The International Monetary Fund welcomed on Friday that European Union leaders agreed to lend 90 billion euros ($105 billion) to Ukraine, a spokesperson said. Read more at straitstimes.com. Read more at straitstimes.com.

European Union leaders agreed on December 19 to provide a €90 billion interest-free loan to Ukraine. The joint borrowing will cover two-thirds of the country's financial needs for the next two years. Although hailed by several European leaders as a clear sign that the block stays behind Ukraine, it also comes as they failed to agree on a plan to use frozen Russian assets to fund military aid to Ukraine, says FRANCE 24's correspondent to Brussels Dave Keating.