Ukraine may receive first tranche of €90 billion EU loan by end of Q2 2026 – European Commission

Key elements of a €90 billion credit support package for Ukraine from the European Union have already been prepared, and the first tranche could be disbursed in the second quarter of 2026.

This was stated at a briefing in Brussels by European Commission spokesperson Bálazs Ujvári, according to an Ukrinform correspondent.

According to him, a Ukraine Support Loan mechanism has been established, and the Ukraine Facility financial assistance program for 2024–2027 has been updated.

Commenting on the potential unblocking of the €90 billion package reportedly being held up by Hungary, Ujvári noted that technical work is ongoing to finalize three key documents needed to launch disbursements.

“We have to finalize the memorandum of understanding which will underpin the macro-financial assistance channel of this package, then we have to update the Ukraine Plan which underpins the Ukraine Facility which again will be an important channel through which we are going to provide budget support to Ukraine,” he said.

He added that the first tranche is expected in the second quarter of 2026.

European Commission representatives also commented on the possibility of resuming EU financial support for Hungary, saying they expect the new Hungarian government to take swift steps toward reforms and restoring the rule of law.

European Commission President Ursula von der Leyen wrote on X, following a call with Hungary’s newly elected Prime Minister Péter Magyar: “There is swift work to be done to restore, realign and reform. Restore the rule of law. Realign with our shared European values. And reform, to unlock the opportunities offered by European investments.”

Commission spokesperson Paula Pinho also said in Brussels that the Commission closely followed Magyar’s post-election press conference and is ready to work with the new government, but emphasized that the first step must come from Budapest.

As previously reported, French Foreign Minister Jean-Noël Barrot said that after Viktor Orbán’s defeat in Hungary, Vladimir Putin has lost his “Trojan horse in the European Union,” and urged Magyar to lift Hungary’s veto on aid to Ukraine.