The European Parliament has taken a significant step to bolster Ukraine's economy by urgently approving a package that includes a loan of 90 billion euros for the years 2026 and 2027.
This crucial decision was backed by 458 members, with 140 opposing it (44 abstained)
Out of this amount, 30 billion euros will be allocated for macro-financial assistance or budget support through the EU Mechanism for Ukraine.
Additionally, 60 billion euros will be directed towards enhancing Ukraine's defense capabilities and supporting military equipment purchases. If certain defense materials are not immediately available from European countries, targeted exemptions will be applied for supplies from "third" countries.
Financial assistance will be provided based on Ukraine's financial needs as outlined in a financial strategy prepared by Ukraine and evaluated by the Commission.
The Council of the EU must also officially approve the package for the Commission to make the first payment at the beginning of the second quarter of 2026.
It has been reported that the funding will be subject to strict conditions, including Ukraine's "steadfast commitment to democratic governance, the rule of law, and the protection of human rights, including minority rights". This entails ongoing efforts to combat corruption and strengthen democratic institutions.
According to the EU proposal, Ukraine will receive a loan of 90 billion euros, financed through joint borrowings of the European Union and guaranteed by the EU budget reserve.