European Parliament approves €90 bln loan for Ukraine
The decision was backed by 458 MEPs, with 140 voting against and 44 abstaining, according to an Ukrinform correspondent.
Of the total amount, €30 billion will be allocated for macro-financial assistance or budgetary support, to be provided through the EU’s Ukraine Facility.
€60 billion will be allocated to strengthen Ukraine’s defense capacity and supporti the procurement of military equipment. If certain defense material is not immediately available from European countries, a set of targeted derogations will apply to sourcing them from other countries.
Financial assistance will be provided in line with Ukraine’s financial needs, as outlined in a financial strategy prepared by Ukraine and assessed by the European Commission.
The EU Council also needs to formally adopt the package in order for the Commission to be able to disburse the first payment early in the second quarter of 2026.
The funding will be subject to strict conditions, including Ukraine’s “continued commitment to democratic governance, the rule of law, and the protection of human rights, including the rights of minorities.” This also entails ongoing efforts to combat corruption and strengthen democratic institutions.
As previously reported, under the EU proposal, Ukraine will receive a €90 billion loan financed through joint EU borrowing and guaranteed by the EU budget reserve
Photo credit: President’s Office
