EU agrees details on 90 billion euro lifeline to Ukraine
European ambassadors reached an agreement on the details of a 90 billion euro loan ($107 billion) for Ukraine, the European Council said in a press release on Feb. 4.
EU leaders agreed on the so-called Ukraine Support Loan at a summit in December 2025, in response to a gaping hole in Ukraine's finances as Russia's full-scale invasion approaches its fifth year.
The loan is designed to meet two-thirds of Kyiv's needs in 2026 and 2027, which amount to 136 billion euros ($160 billion) according to the International Monetary Fund.
The proposal will now be put to the European Parliament. If approved, the cash could arrive by spring. The support loan earmarks 30 billion euros in support for Ukraine's budget, and 60 billion euros for defense spending.
While the loan program prioritizes defense products made in Europe, certain third countries could be considered to meet Ukraine's urgent defense needs if they have agreements with the EU or receive approval.
But Ukraine will need at least $27 billion in military equipment from outside the EU in 2026, underscoring the bloc's reliance on U.S. technology to support Kyiv, according to country position papers seen by the Kyiv Independent.
"Today’s agreement shows that the EU continues to act decisively in support of Ukraine and its people," Cypriot Finance Minister Makis Keravnos said in a statement.
