Council of European Union to formally adopt €90bn Ukraine loan package on 24 February

A package of EU legislation providing for a €90 billion loan to Ukraine in 2026-2027 is due to receive formal approval from the Council of the European Union on 24 February.

The EU is set to formally approve the €90 billion package covering Ukraine's needs for 2026-2027 at a meeting of the General Affairs Council.

"The legislative package needed to grant Ukraine a €90 billion loan to cover its financial needs for 2026 and 2027 is expected to receive final approval at the EU General Affairs Council meeting on 24 February," a senior EU diplomat told European Pravda on condition of anonymity.

The official added that the item will appear on the General Affairs Council's agenda on 24 February as a point not requiring discussion.

The decision requires a qualified majority vote by EU member states.

"Ukraine will receive these much-needed funds in the second quarter of this year," the diplomat added.

On 19 December, the European Union summit approved a decision on a joint loan to provide Ukraine with €90 billion in support, designed to cover two-thirds of Ukraine's needs in 2026-2027 in both the budget and defence spheres.

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

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.