Marchenko on 90 billion euros from EU: Funds will go to budget and defense needs

Marchenko explained what 90 billion euros from the EU will be spent on

The €90 billion allocated by the EU is non-refundable and interest-free for Ukraine.

This was announced by Ukrainian Finance Minister Serhii Marchenko, according to Censor.NET.

What is known?

The European Council has made a crucial decision for Ukraine to provide €90 billion over the next two years.

These funds are essentially non-refundable and interest-free for Ukraine. Repayment can only take place after Russia compensates us for the damage caused by its aggressive war," the statement said.

According to Marchenko, the funds received will be allocated to budgetary and defense needs.

"It is important that work on the Reparations Loan continues—its implementation requires additional preparation," the minister added.

What preceded it?

On Thursday, December 18, European Union leaders failed to reach an agreement on the use of frozen Russian assets to finance Ukraine.
According to DW, Belgium, Hungary, Slovakia, Italy, Bulgaria, Malta, and the Czech Republic opposed the proposed mechanism.
Subsequently, the EU decided to provide Ukraine with €90 billion in 2026–2027 to support the country's economy, defense, and stability.

Author: Екатерина Людвик