Today, Wednesday 11 February, the European Parliament has approved a Commission proposal to grant Ukraine a €90 billion loan to finance military and budgetary expenditures.
The vote counted 458 in favour of the proposal,, 140 rejections, and 44 abstentions. The package will finance €60 billion in military assistance and €30 billion in budgetary support through EU borrowing.
The loan is expected to cover two-thirds of Ukraine’s budgetary needs in this year and 2027.
From the European Parliament’s press release:
- €60 billion to strengthen Ukraine’s defence, €30 billion for macro-financial assistance and budget support
- Ukraine must commit to continue democratic reforms and fight corruption
- Loan to be financed through common EU borrowing, Ukraine to pay it back once it receives war reparations from Russia
Source: commonspace.eu with Ukrainska Pravda and the European Parliament