The European Union approved a €90 billion euro loan to Ukraine on Thursday. The loan seeks to address Ukraine’s “most urgent budgetary and defence industrial capacity needs in 2026 and 2027,” the Council of the EU explained.
€30 billion will be designated for “macroeconomic support to Ukraine,” the EU noted, while €60 billion will be loaned for Ukraine’s “capacity to invest in defence industrial capacities, including procurement of defence products.”
“Today the Council approved the final element needed to allow for the disbursement of the €90 billion loan for Ukraine,” said Minister of Finance of the Republic of Cyprus Makis Keravnos. “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.”
European Commission President Ursula von der Leyen hailed the move. “We are on our way to Cyprus with good news,” she said on X. “I welcome the agreement from the Member States on the 90 billion euro loan to Ukraine for 2026-27 and on 20th sanctions package. While Russia doubles down on its aggression, we are doubling down on our support to the brave Ukrainian nation enabling Ukraine to defend itself and putting pressure on Russia’s war economy.”
“Now we will move to swiftly implement on both fronts,” she wrote.
Ukrainian President Volodymyr Zelenskyy welcomed the package. “I thank all European leaders for the European support package for Ukraine and the 20th sanctions package against Russia. This will truly help,” he said.
“We really count on the 90 billion support package to deliver the first tranche – as soon as possible,” he continued. “This money is for our army, and we are ready to buy weapons with it – including air defense. It is also funding that will help us prepare for winter – and work has already started to protect our energy system, and the European funds will support this as well.”
