EU loan of €90 billion: when will Ukraine receive the first funds?
30 January 11:17
The European Union plans to provide Ukraine with its first support package in the form of a €90 billion loan in early April 2026.
This was announced by European Commissioner for Economy and Productivity Valdis Dombrovskis, according to "Komersant Ukrainian".
He reported on a conversation with Ukrainian Finance Minister Serhiy Marchenko and Defense Minister Mykhailo Fedorov regarding work on the payment to Ukraine.
“We are working on approving a €90 billion package for 2026-2027, with the first payment planned for early April,” Dombrovskis wrote.
Earlier, European Commission President Ursula von der Leyen officially presented a legislative proposal to provide Ukraine with €90 billion in macro-financial assistance for 2026-2027. The project is being implemented in the format of enhanced cooperation with the support of 24 EU member states.
The funds will be allocated according to strategic areas:
- €60 billion will be allocated to defense support and strengthening the Armed Forces of Ukraine on the battlefield.
- €30 billion will be allocated for direct budget support, implementation of reforms, and modernization of the country in preparation for EU accession.
Special attention will be paid to the procurement of weapons: priority will be given to manufacturers from the EU and Ukraine. If certain weapons cannot be purchased in these countries, they can be purchased in third countries.
“Reparation loan” from the EU
On December 19, European Union leaders reached an agreement to provide Ukraine with €90 billion in financial support during 2026-2027.
According to German Chancellor Friedrich Merz, Ukraine will receive an interest-free loan. At the same time, the EU will continue to keep Russian assets frozen until the aggressor country pays compensation to Ukraine.
EU leaders have decided to lend Ukraine funds over the next two years from the EU budget, instead of using frozen Russian assets, bypassing disagreements over the unprecedented plan to finance Kyiv with Russian sovereign funds.
Previously, it was planned that Ukraine could receive about €140 billion in new loans from frozen Russian assets. The funds will be returned only if Russia agrees to pay compensation for the damage caused by the war.
The decision was blocked by Belgium, which is demanding guarantees that it will not bear any financial risks in the event of a possible default. This concerns the assets of the Russian central bank amounting to about €140 billion, which are held in the Belgian depository Euroclear.
On December 12, the European Union agreed to freeze the Russian central bank’s assets held in Europe for an indefinite period. This decision removes a significant obstacle to the use of these funds to provide financial support to Ukraine in its fight against Russian aggression.
