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Under the special loan, Ukraine will receive €30 billion to support its budgetary needs and €60 billion to purchase weapons and ammunition.
Latvian Prime Minister Evika Siliņa and Estonian President Alar Karis have called for a special European envoy to take part in talks with the Kremlin to end its war in Ukraine.
The session will also see MEPs approve a €90bn loan to Kyiv funded with joint debt to keep Ukraine's war effort going.