EU takes first steps toward €90 billion Ukraine loan package — Espreso correspondent

Espreso correspondent Tetiana Vysotska reported the information.

"Regarding EU financing for Ukraine, the first steps have been taken, but certain legislative procedures still need to be completed. This week, the European Parliament held two votes on the loan for Ukraine. The first vote, which took place on January 20, was a decision that credit documents for Ukraine would be processed through an expedited procedure. And on January 21, the European Parliament approved the first document, which effectively established a loan for Ukraine within the framework of enhanced cooperation. This is a mechanism that allows providing funds to a third country from the European budget," Tetiana Vysotska commented.

According to her, the situation is currently at the stage of negotiations among EU member states, with technical details being discussed both at the level of EU capitals and at the level of ambassadors in Brussels.

"It is expected that technical details will be refined over the next few weeks. Then the bills that will allow the transition to financing will be put to a vote in the European Parliament again during the February session. So by the end of February to early March, they want to complete these legislative matters and move to the stage of borrowing money," the correspondent noted.

Vysotska added that in order to provide financing to Ukraine, the EU must first go to international financial markets and borrow money, and then transfer it to Ukraine.

• On January 20, the European Parliament at a plenary session in Strasbourg supported the application of an urgent procedure for three bills that pave the way for providing Ukraine with a European Union loan of €90 billion in 2026–2027.