EU Countries Agree on Terms for $106 Billion Loan to Fund Ukraine

The European Council said the loan would be repayable ‘only once Russia has paid war reparations to Ukraine.’

Volunteers who aspire to join the 3rd Separate Assault Brigade of the Ukrainian Armed Forces take part in a basic training, in Kyiv region, Ukraine, on March 5, 2024. Viacheslav Ratynskyi/Reuters

The European Council on Feb. 4 approved details of the 90 billion euro ($106 billion) loan for Ukraine to support the country’s budget and defense needs for 2026 and 2027.

The support loan will allocate two-thirds of the funding to military spending and one-third to general economic support, according to a European Council statement.