Brussels to greenlight massive €90 billion support package for Ukraine

The Council of the European Union is set to formally approve a €90 billion loan package to support Ukraine’s financial and defence needs for 2026–2027 at its General Affairs Council meeting on February 24.

“The legislative package needed to grant Ukraine a €90 billion loan to cover its financial needs for 2026 and 2027 is expected to receive final approval at the EU General Affairs Council meeting on 24 February,” a senior EU diplomat said on condition of anonymity, Caliber.Az reports, citing Ukrainian media.

The diplomat added that the item will appear on the Council’s agenda as a point not requiring discussion and emphasized that “Ukraine will receive these much-needed funds in the second quarter of this year.”

The decision will require a qualified majority vote by EU member states.

The loan follows a series of prior approvals. On December 19, the European Council endorsed a joint loan to provide Ukraine with €90 billion in support, intended to cover roughly two-thirds of Ukraine’s budgetary and defence needs for 2026–2027. Subsequently, on February 11, the European Parliament approved a European Commission proposal to finance Ukraine’s military and budgetary expenditures through the loan.

Earlier, on February 4, EU member state ambassadors at the Committee of Permanent Representatives (Coreper) agreed on the mechanisms for providing the €90 billion loan, including provisions for third-country participation.

By Vafa Guliyeva