European Parliament backs urgent procedure for €90bn loan to Ukraine
The European Parliament has backed an urgent procedure to consider three legislative initiatives needed to launch a €90 billion loan support mechanism for Ukraine.
This was reported by a European Pravda correspondent, Censor.NET reports.
The documents are intended to create the legal basis for providing Ukraine with a loan in 2026–2027 within the EU’s enhanced cooperation mechanism.
What will the European Parliament consider?
- a decision on enhanced cooperation to establish a loan for Ukraine;
- a regulation on implementing enhanced cooperation to establish a loan to support Ukraine for 2026–2027;
- amendments to Regulation 2024/792 establishing the Ukraine Facility.
The basic document that enables the establishment of a loan for Ukraine on the basis of the enhanced cooperation mechanism has already been approved by the Council of the EU and will be put to a vote in the European Parliament on January 21.
The other two bills must go through a conciliation procedure between the Council of the EU and the European Parliament. The vote on them is expected to take place during the next European Parliament session on February 9–12, 2026.
Background
- Earlier, it was reported that the European Council had agreed to provide Ukraine with a €90 billion loan for 2026–2027 based on EU borrowing on capital markets, backed by EU budget reserves.
- On January 14, the European Commission approved a package of legislative proposals that will make it possible to provide Ukraine with a €90 billion EU loan to cover financial and military needs in 2026–2027.
