Merz told parliament these additional funds would be used exclusively to finance military equipment.
The loans would be interest-free and only paid back once Russia pays reparations.
Washington says Europe must do more to pay for its defence.
Several EU governments have long objected to seizing the assets outright.
Merz has said that property rights must not be infringed upon.
EU ambassadors last month discussed a complex European Commission proposal.
Under that proposal EU member states would themselves repay Euroclear if Russia reclaimed the assets without paying reparations. – AFP
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