The disbursement of €3.2 billion will help cover Kyiv's financial and budgetary needs. A second payment worth about €6 billion and dedicated to drone production is expected in the coming days, Euronews reports.
Ukraine has received €3.2 billion as the first disbursement under the European Union's €90 billion support loan, Ursula von der Leyen has announced. The €3.2 billion will help cover Kyiv's budgetary gaps and guarantee financial stability. A second disbursement dedicated to drone production and worth about €6 billion is expected to be unveiled in the coming days.
The news comes as Ukraine enjoys renewed momentum on the battlefield against Russian troops and Moscow's war machine shows growing strain. “Today, we are transferring the first tranche under this loan, dear Yulia (Svyrydenko), it is exactly €3.2 billion in macro-financial assistance,” the European Commission President said on Thursday while attending the Ukraine Recovery Conference in Gdańsk, Poland.
She was addressing Ukrainian Prime Minister Yulia Svyrydenko.
“This is indeed solidarity in action. It shows Europe’s support for Ukraine is here to stay,” von der Leyen added.
The announcement marks a turning point in a six-month political struggle to get the loan off the ground. The 27 EU leaders agreed on the extraordinary assistance package in December after an inventive proposal to tap into Russia's immobilised assets fell apart at the eleventh hour. As an alternative, they chose to establish the €90 billion loan through joint debt. Hungary, Slovakia and the Czech Republic negotiated an exemption from the scheme.
The €3.2 billion marks the start of a series of payments that will proceed gradually until the end of the year. For 2026, Brussels has allocated €45 billion, with €16.7 billion for financial support and €28.3 billion for military support.
The remaining €45 billion will be reserved for 2027 and cover two-thirds of Ukraine's funding needs. Western allies are expected to cover the other one-third.
“We continue to call on all our partners to maintain their support, because a strong and independent Ukraine is in all our interests,” von der Leyen said on Thursday. “Our ambition is not only to help Ukraine endure, it is to help Ukraine grow and prosper as a free and European country.”
The 24 member states that participate in the common borrowing will pay an estimated €3 billion in annual interest rates. Ukraine will only be asked to return the €90 billion loan if Russia ever agrees to war reparations, something that Moscow has categorically ruled out.
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