EU works to finalize €90B Ukraine loan package, first payment due by mid-2026

European Commission spokesperson Maciej Berestecki stated this on January 5 in Brussels in response to a question from a correspondent of European Pravda.

The European Union is conducting preparatory work on providing Ukraine with €90 billion in 2026-27, as decided by the European Council in December.

"On December 18-19, the European Council agreed to provide Ukraine with a loan of €90 billion based on enhanced cooperation. After the meeting, the European Commission submitted a proposal for an EU Council decision allowing enhanced cooperation. It was adopted on December 22 and forwarded to the EU Council, where it will be voted on by qualified majority," Berestecki reported.

He added that the adoption of the decision on enhanced EU-Ukraine cooperation also requires approval from the European Parliament.

"It is expected that this (approval of the document by the EU Council and European Parliament) will happen within the next few weeks," the European Commission spokesperson added.

He also emphasized that at the same time, the European Commission is working on a proposal for a regulation that establishes the loan conditions for Ukraine.

"This proposal from the Commission is planned to be adopted in January, and then it will be forwarded to the College for decision-making," the spokesperson said.

At the same time, "the European Council agreed to amendments to the regulation on the multiannual financial framework (the EU's multiannual budget until 2027) so that the EU can provide a loan to a third country."

"This proposal from the Commission is also planned to be adopted in January," he clarified.

"We are aware of the urgency of Ukraine's financial needs. We plan to make the first payment to Ukraine no later than the second quarter of 2026," Maciej Berestecki added in response to a question from European Pravda.