European Parliament approves €90bn loan for Ukraine

On Wednesday 11 February, the European Parliament approved a European Commission proposal to grant Ukraine a €90 billion loan to finance military and budgetary expenditures.

Members of the European Parliament approved the loan for Ukraine for 2026-27 by 458 votes in favour, with 140 lawmakers voting against and 44 abstaining.

The loan for Ukraine consists of €60 billion in military assistance and €30 billion in budgetary support financed through EU borrowing.

The vote in the European Parliament had previously been scheduled for a special plenary session convened on 24 February to mark the fourth anniversary of Russia's full-scale invasion of Ukraine but was moved to 11 February.

On 19 December, the European Union summit approved a decision on a joint loan to provide Ukraine with €90 billion, which covers two-thirds of Ukraine's needs in 2026-27 in both the budgetary and defence sectors.

On 4 February, EU member state ambassadors at the Committee of Permanent Representatives (Coreper) agreed on mechanisms for providing Ukraine with a €90 billion loan in 2026-27, including allowing third countries to participate.