According to Foreign Minister Margus Tsahkna, the agreement reached today, 23 April, in the European Union on allocating a €90 billion loan to Ukraine and the political approval of the 20th sanctions package mark a long-awaited breakthrough, demonstrating that despite obstacles the Union remains firmly on course in its support for Ukraine.
The decision to grant Ukraine the €90 billion loan was already taken in the EU at the end of last year, but its implementation had been blocked for several months by Hungary.
“We have now finally overcome this obstacle and the EU can allocate the first tranche of the long-awaited loan to Ukraine. In doing so, we demonstrate that the EU remains committed to supporting Ukraine, enabling it to fight for its freedom and for a just and lasting peace in Europe,” the foreign minister said. “The loan will help cover Ukraine’s urgent financial needs and thereby strengthen its position both on the battlefield and in negotiations.”
At the end of last year, EU member states agreed to provide Ukraine with a €90 billion loan for the 2026–2027 period, of which €30 billion will be used to ensure the functioning of the Ukrainian state and the stability of its budget, and €60 billion will be invested in Ukraine’s defence industry and the procurement of military equipment from European and Ukrainian companies.
The loan will be financed from EU capital markets and guaranteed by the European Union budget. Ukraine will begin repaying the loan only once Russia has paid reparations for war damages. Until then, Russian state assets will remain frozen, and the EU reserves the right to use them for repayment of the loan.
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