EU Parliament to Vote on €90 Billion Loan Package for Ukraine: Funding Details

Vote on Ukraine Loan Package

According to Главком: The European Parliament has scheduled a vote for Wednesday, February 11, on a €90 billion loan package for Ukraine. This substantial financial support, intended for both budgetary and military aid, is earmarked for the 2026-2027 period. The decision to proceed with this loan was originally approved by the European Council on December 18-19.

The vote has been moved to an earlier date, made possible by a consensus among key political groups. The center-right European People's Party, the center-left Socialists and Democrats, and the liberal Renew Europe group all agreed to accelerate the voting process. European Commission President Ursula von der Leyen confirmed that the Commission has adopted the legislative package enabling the €90 billion loan to Ukraine.

Loan Structure and Allocation

According to the plan, €30 billion will be allocated for budgetary support, while €60 billion is designated for Ukraine's military needs. The legislative package consists of three key components, which include:

• a proposal to establish a new loan facility for Ukraine,
• amendments to the Ukraine Facility regulation,
• and adjustments to the EU's long-term financial framework.

The funds will be disbursed through an enhanced cooperation mechanism involving 24 of the 27 EU member states. The European Union will raise the capital on financial markets, with the loans backed by the EU budget's reserves.

The European Union plans to send Ukraine the first tranche of this loan in early April. As noted by Delphine Colard,

"an agreement has been reached between the political groups"

, indicating broad parliamentary support for the initiative. This vote comes at a critical time as Ukraine continues to defend its sovereignty and manage its economy under immense pressure.

This loan represents a significant step in supporting Ukraine amidst the ongoing war and economic challenges. The EU's financial assistance will help Ukraine not only stabilize its budget but also strengthen its defense capabilities. The expedited decision-making process reflects growing political unity within the European Union regarding support for Ukraine, which may positively influence future EU-Ukraine relations.