Germany offers aid to businesses hit by war in Ukraine

The German government has unveiled a package of loans and other financial assistance to companies hit hard by the war in Ukraine and sanctions on Russia

BERLIN -- The German government on Friday unveiled a package of loans and other financial assistance to help companies hit hard by the war in Ukraine and sanctions on Russia.

The package includes loans of as much as 100 billion ($109 billion) to cover the credit risks taken by Germany's energy industry as the country scrambles to replace imports of Russian oil, gas and coal.

Affected companies will also be able to apply for limited grants to cover increased energy costs.

Additional loans will also be made available to companies grappling with a liquidity squeeze.