Ukrainian Parliament approves €90 billion EU support deal PHOTO

Ukraine’s parliament has ratified an agreement on a €90 billion European Union loan package aimed at supporting the country’s budget and ensuring macro-financial stability.

According to the press service of the Verkhovna Rada, 298 lawmakers voted in favor of the relevant legislation, European Pravda reports.

The agreement enables Ukraine to receive up to €90 billion in EU financial assistance during 2026–2027. The funds are expected to be used to cover the state budget deficit, maintain macroeconomic stability and strengthen the country’s defence-industrial capacity.

“Repayment of the principal amount of the loan will be carried out exclusively using reparations from the Russian Federation, while the interest payments will be covered by the EU budget,” the parliamentary press service stated.

Earlier, the European Union and Ukraine finalized the text of the loan agreement required for Kyiv to access the funding package. The document, together with a memorandum of understanding on the loan, was subsequently submitted to parliament for ratification.

Part of the financial support will be tied to Ukraine’s implementation of a number of reforms. According to earlier reports, the conditions are based on elements of the so-called “10-point Kachka-Kos plan,” one provision of which considers the adoption of an Anti-Corruption Strategy.

Meanwhile, an International Monetary Fund mission has begun meetings with Ukrainian authorities and international partners as part of the first review of the Extended Fund Facility program.

IMF staff are expected to assess Ukraine’s progress in carrying out economic reforms and broadening the tax base under the Fund’s $8.1 billion loan program.

By Vafa Guliyeva