EU lawmakers set to vote on accelerated €90 billion loan for Ukraine

The European Parliament will vote on January 20, during a plenary session in Strasbourg on whether to apply an accelerated procedure to approve a €90 billion European Union loan to Ukraine for the 2026–2027 period.

Members of the European Parliament (MEPs) will decide whether to invoke an urgent procedure to adopt legislation enabling the EU to provide Ukraine with large-scale financial assistance over the next two years, Caliber.Az reports, citing Ukrainian media.

“On Tuesday, a vote will take place on an accelerated procedure for approving enhanced cooperation among 24 member states regarding a €90 billion loan to Ukraine, the establishment of the Ukraine Support Loan Facility for 2026 and 2027, as well as amendments to the Ukraine Facility Regulation,” the European Parliament said.

The vote is scheduled for 13:00 Kyiv time on January 20. The largest political groups in the European Parliament have sufficient votes to ensure approval of the decision.

If endorsed, the vote will trigger an expedited process for debating and adopting the legislative proposals put forward by the European Commission. The final texts will still require approval by the Council of the European Union and formal endorsement by the European Parliament.

The next substantive discussion of the Ukrainian loan at the level of the Committee of Permanent Representatives (Coreper) in Brussels is expected to take place as early as January 21.

As previously reported, on January 14 the European Commission adopted a package of legislative proposals designed to enable the EU to provide Ukraine with a €90 billion loan to meet its financial and military needs in 2026 and 2027. On the same day, EU ambassadors meeting within Coreper were briefed on the proposals, after which several diplomats raised technical questions.

Earlier, on December 18-19, the European Council agreed to grant Ukraine the €90 billion loan, to be financed through EU borrowing on capital markets and backed by EU budget reserves under an enhanced cooperation mechanism. Hungary, Slovakia, and the Czech Republic did not veto the initiative but opted not to participate in it.

By Vafa Guliyeva