European Parliament approves urgent procedure to provide Ukraine with €90bn
At a plenary session in Strasbourg on 20 January, the European Parliament approved the use of an urgent procedure for three draft laws that would open the way for the EU to provide Ukraine with a €90 billion loan in 2026-2027.
As reported by a European Pravda journalist in Strasbourg, the European Parliament approved the urgent procedure for granting Ukraine a €90 billion loan over the next two years.
The Parliament decided that three documents would be considered under the urgent procedure:
- A decision on enhanced cooperation to establish a loan for Ukraine.
- A regulation on the implementation of enhanced cooperation to set up a Ukraine support loan for 2026 and 2027.
- Amendments to Regulation 2024/792 establishing the Ukraine Facility.
The first document – the framework decision enabling the creation of a loan for Ukraine under the EU's enhanced cooperation mechanism – has been approved by the Council of the EU and will be put to a vote in the European Parliament for final adoption without delay.
European Pravda has found that the draft decision authorising enhanced cooperation to establish a loan for Ukraine will be voted on by the European Parliament as early as Tuesday 21 January.
The other two draft laws must go through the conciliation procedure between the Council of the EU and the European Parliament and are expected to be put to a vote at the next plenary session of the European Parliament on 9-12 February.
European Pravda reported earlier that on Wednesday 14 January, the European Commission adopted a package of legislative proposals that would allow the EU to provide Ukraine with a €90 billion loan to cover its financial and military needs in 2026 and 2027.
On the same day, the Committee of Permanent Representatives at the ambassadorial level in Brussels heard a presentation of these proposals, after which some diplomats raised technical questions.
On 18-19 December, the European Council decided to provide Ukraine with a €90 billion loan for 2026-2027, financed through EU borrowing on capital markets and backed by EU budget reserves under the enhanced cooperation mechanism with Ukraine.