EU ambassadors approved a €90 billion loan for Ukraine - media
Kyiv • UNN
EU ambassadors reached an agreement on a €90 billion loan for Ukraine. The European Parliament is likely to vote next week.
EU ambassadors have approved a 90 billion euro loan for Ukraine, agreed upon by the bloc's leaders at a December summit, reported Rikard Jozwiak, Europe editor for "Radio Free Europe," on X, writes UNN.
EU ambassadors reach agreement on 90 billion euro loan to Ukraine
According to him, "the European Parliament is likely to vote next week."
Addition
As reported, the proposal envisages providing Ukraine with a €90 billion EU support loan, which will be financed through joint EU borrowing on capital markets and guaranteed by the so-called "reserve" of the EU budget. This new instrument, if adopted, will provide military assistance and general budgetary support to Ukraine, as well as support Ukraine's defense industry and its integration into the European Defence Industrial Base.
EU countries agreed on financial assistance for Ukraine at the December summit. It is expected that two-thirds of the funding will be directed to military expenditures, rather than ordinary budgetary support.
According to Politico, the decision was delayed due to Paris's position. France, as one diplomat indicated, was "very stubborn and persistent in promoting its option." The publication noted that "negotiations were close to completion last week before France demanded contributions from third countries, particularly from the United Kingdom, arguing that EU members should not be the only ones to bear the cost of interest payments."
The publication also indicated that "the 20th package of EU sanctions against Russia is also delayed." Three diplomats, however, reported that the European Commission could announce the measures any day. "However, the definition of 'any day' is subjective. Two diplomats expected an announcement on Tuesday evening (which, obviously, did not happen), and another suggested it could happen on Friday," the publication writes. A European Commission representative told the publication that the announcement is unlikely to coincide with today's European Commission seminar in Leuven - although anything can happen.
The new measures are expected to be implemented by the fourth anniversary of Russia's full-scale invasion of Ukraine on February 24. "A hint at the timing of final approval: EU foreign ministers will meet in Brussels beforehand," the publication indicates.