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Ukrainian Parliament Approves EU Memorandum, Unlocking 90 Billion Euro EU Loan
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The Verkhovna Rada of Ukraine has adopted a draft law ratifying a Credit Agreement and Memorandum of Understanding with the European Union, paving the way for Kyiv to receive a €90 billion ($104.5 billion) EU loan, European Pravda reported on May 28.
With 298 Members of Parliament voting in favor, the legislation was passed in its entirety. Additionally, 276 lawmakers supported a motion to send the document for immediate signing by the Speaker of Parliament and President Volodymyr Zelenskyy.
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The Memorandum of Understanding, which was signed in Brussels on May 20, specifically governs an €8.35 billion ($9.7 billion) macro-financial aid package linked to a series of requirements Ukraine must fulfill. The Credit Agreement was formally signed on May 27, 2026, according to European Pravda.
Following the Ukrainian parliament’s approval, the next crucial step requires ratification by 24 EU member states participating in the enhanced cooperation mechanism. This specific financial coalition notably excludes Hungary, Slovakia, and the Czech Republic.
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According to sources cited by European Pravda, finalizing these legal procedures will allow the European Union to transfer the first loan tranche as quickly as possible. The initial disbursement of macro-financial aid to the Ukrainian state budget is expected to amount to €3.2 billion ($3.7 billion).
The landmark €90 billion ($104.5 billion) EU loan package arrives amid NATO Secretary General Mark Rutte previously urging allies to provide an additional $60 billion in defense funding this year.
Ukrainian Defense Minister Mykhailo Fedorov noted that this sustained financial support is critical to maintaining frontline pressure and sustaining the country’s air defense network, which currently intercepts over 80% of cruise missiles and 90% of incoming drones.
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