Czech president says he wants country to join financing mechanism for Ukraine loan

Czech President Petr Pavel has welcomed the EU leaders' agreement on a joint loan for Ukraine, while hinting that he would like Czechia to take part in the mechanism.

Pavel called it "extremely important" that the European Council has agreed upon financial assistance for Ukraine.

"Russia's war of aggression is severely draining the country. Our help is vital for Ukraine's survival. But it is also a forward-looking investment in the security of Europe and Czechia.

Therefore, I believe it is right that together with other Europeans we show we are capable of taking on our share of responsibility and securing the future of our continent," Pavel wrote on X.

The European Council agreed to provide Ukraine with a €90 billion loan for 2026-2027, based on EU borrowing on capital markets and backed by EU budget reserves. However, Hungary, Slovakia and Czechia refused to take part in the scheme.