EU Council to approve two acts for €90 billion loan to Ukraine, despite Hungary’s position
On February 24, the Council of the European Union plans to adopt two legislative acts that will allow Ukraine to receive a loan of 90 billion euros. This decision will allow the technical preparation of the financing mechanism to continue, even if Hungary blocks the third necessary document.
European Commissioner Valdis Dombrovskis announced that the European Commission is preparing to provide Ukraine with the first tranche of this loan as early as April 2026. According to him, the finalization of the Regulation on the loan in support of Ukraine will take place on February 24 and will complete the political decision-making to launch the mechanism.
Dombrovskis explained that further documents, including the financing strategy for 2026, will be prepared to ensure the allocation of funds to Ukraine on international financial markets. He also stressed that Hungary’s refusal to adopt amendments to the EU’s multiannual financial framework does not threaten the immediate process of providing the loan.
The European Commissioner recalled that in December last year, all EU leaders, including Hungarian Prime Minister Viktor Orbán, agreed to support the loan. However, Hungary, along with Slovakia and the Czech Republic, will not participate in the financial provision, but Dombrovskis expects the countries to adhere to this agreement.
According to him, the European Commission aims to start payments to Ukraine as early as early April.
Earlier, Hungary blocked one of the three documents necessary for the allocation of a 90 billion euro loan, demanding that Kyiv resume the transit of Russian oil via the Druzhba oil pipeline. The remaining documents have already been approved by the European Parliament and are in the final stage of approval in the EU Council. The approval was expected on February 24, symbolically on the anniversary of Russia’s full-scale invasion of Ukraine.
