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European Union Set To Greenlight €90 Billion Funding Package for Ukraine This Week
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![Photo of Dariia Mykhailenko]( "Photo of Dariia Mykhailenko")
The European Union may authorize a €90 billion (around $105 billion) loan for Ukraine this Wednesday, on April 22.
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A spokesperson for the Cypriot Presidency of the Council of the EU confirmed that the proposal to amend the Multiannual Financial Framework (MFF) has been formally added to the agenda for the upcoming meeting of the Permanent Representatives Committee, known as Coreper II.
According to Radio Free Europe/Radio Liberty on March 20, this legislative adjustment represents the final technical requirement necessary to activate the financial mechanism dedicated to supporting Ukraine.
This amendment serves as the final technical requirement for activating the Ukraine funding mechanism. The proposal has been designated as an “I-item,” a category reserved for matters that do not necessitate further discussion, which typically indicates that a preliminary consensus has been established among member states.
Should the ambassadors grant their approval, the resolution will be finalized via a written procedure, bypassing additional debate.
Last week, on April 14, it was reported that the European Commission has finalized the core components of a €90 billion financial assistance package for Ukraine, with initial disbursements projected for the second quarter of 2026.
During the briefing in Brussels, Commission spokesperson Balázs Ujvári confirmed the formal establishment of the Ukraine Support Loan mechanism. This framework operates in conjunction with the updated Ukraine Facility program, which spans the 2024–2027 period.
The progression of the funding initiative coincides with a shift in the Hungarian political landscape.
Prime minister-designate Péter Magyar has indicated that his administration will not interfere with the implementation of the EU’s €90 billion support mechanism for Ukraine. While confirming that Hungary will maintain its opted-out status and will not participate in the loan program, Magyar stated that Budapest does not intend to block a collective decision previously established by the European Council.
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-c439b7bd9030ecf9d5a4287dc361ba31.jpg "Photo of Katherina Popilnichenko")
