Brussels: The European Union (EU) on Thursday finalised a €90 billion loan to Ukraine, European Council President, Antonio Costa, announced on Thursday.
This loan was agreed upon by the European Council in December 2025 and Ukraine’s most urgent budgetary and defence industrial capacity needs in 2026 and 2027 will be covered with the help of it. The loan has a robust and conditional framework, with strict conditions on Ukraine’s side, such as adherence to the rule of law, including the fight against corruption, the European Council stated.
“Today the Council approved the final element needed to allow for the disbursement of the €90 billion loan for Ukraine. The Cyprus Presidency has worked tirelessly to ensure all elements needed for the loan were in place. Loan disbursements will start flowing as soon as possible, providing vital support for Ukraine’s most pressing budgetary needs. The EU remains steadfast in its support for Ukraine’s sovereignty and territorial integrity,” said Cyprus Finance Minister Makis Keravnos.
Disbursements will be made accessible in line with Ukraine’s financing needs, determined by a financing strategy prepared by Ukraine itself.
According to the Council, €30 billion will be channelled for macroeconomic support to Ukraine – which can be used for country’s most urgent budgetary needs – and €60 billion will be invested in defence industrial capacities, which includes procurement of defence products.
“The EU’s strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine; increasing pressure on Russia. Today we moved forward on both” Costa wrote on X.
He highlighted that “Europe stands firm, united and unwavering in its support to Ukraine.”
He also mentioned that the council adopted the 20th package of sanctions against Russia, reducing its ability to wage war.
“The EU itself will service and repay the loan, while Kyiv will receive the funds free of charge, as it is no longer able to service its debts”, reported Russia’s leading news agency TASS regarding the €90 billion loan.
President of Ukraine, Volodymyr Zelensky, held a meeting with Costa about the unblocking of a €90 billion financial assistance package on April 21.
“Antonio also noted our security agreements with countries in the Middle East and the Gulf region. The Ukrainian system for protecting lives, which we are offering to partners in the Drone Deal format, is truly unique. We have already begun this cooperation with several European countries as well,” said Zelensky in a post on X.
(IANS)
