EU Commission to release half of €90 billion loan to Ukraine

The European Commission has begun preparations to provide Ukraine with a €90bn loan backed by the EU-wide budget.

Kyiv is expected to receive the first €45 billion by the end of 2026, the Commission said on March 31, Caliber.Az reports.

Earlier, parts of the aid package were blocked by Hungary and Slovakia due to disagreements over oil supplies through the Druzhba pipeline.

The Commission said the funds would be used to support Ukraine’s budget and purchase military equipment, with particular emphasis on the country’s drone industry.

Originally, the European Commission proposed financing the loan using frozen Russian assets within the EU, but Belgium rejected the idea.

A solution was eventually agreed upon using guarantees from the EU-wide budget.

Despite previous blocks by Hungary and Slovakia at the March EU summit, Commission President Ursula von der Leyen said support for Ukraine would be provided “one way or another.”

By Bakhtiyar Abbasov