WASHINGTON (dpa-AFX) - The European Commission has said that it has advanced EURO 90 bln laon for Ukraine to meet its urgent budgetary and defense needs as Russia has intensified attacks on the country.
It covers two thirds of Ukraine's overall financing and defence needs for 2026 and 2027.
This week, the Commission and Ukrainian Parliament have adopted the Ukraine Support Loan (USL) Agreement setting out reforms, detailed financial terms and operational arrangements for the facility and paving the way for its swift implementation. This went in hand with the adoption of the Memorandum of the Understanding underpinning the Macro-financial Assistance Program for 2026 by both sides, also this week. These represent important steps towards the implementation of the EUR 90 billion USL, which will provide critical budgetary assistance and help accelerate urgent defence procurement for Ukraine in 2026 and 2027.
Following the European Council's decision in December to provide Ukraine with such loan for 2026 and 2027, the Council adopted the USL Regulation on April 23.
Following the signature by the Commission earlier this week, Ukraine on Thursday ratified the Loan Agreement and the Memorandum of Understanding, paving the way for the first disbursements in June.
The European Commission has said that continued and coordinated financial and defence support from international partners remains essential, including timely delivery on commitments by the G7 for 2026 and beyond.
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