First €90B EU tranche for Ukraine to fund drones
Photo: Ursula von der Leyen (Getty Images)
Ukraine will receive its first defense package from the European Union, worth 6 billion euros, as early as this quarter. These funds will be used to finance drones, European Commission President Ursula von der Leyen announces at a plenary session of the European Parliament.
This tranche is part of a large-scale European loan totaling 90 billion euros. According to von der Leyen, one-third of these funds will go toward covering Ukraine’s budgetary needs, while the remainder will be allocated to defense.
The President of the European Commission notes that the EU is fulfilling its promise to provide macro-financial assistance. She adds that Ukraine will receive the first large tranche of €45 billion for 2026 before the end of this quarter.
"While Russia is doubling down on its aggression, Europe doubles down on our support for Ukraine," she states.
Von der Leyen also assures that the EU "will continue our support to the brave Ukrainian people and their armed forces."
EU loan for Ukraine
On April 23, the European Council approved the provision of €90 billion in loan assistance to Ukraine. Repayment of this debt is planned to be funded by reparations from Russia.
There have also been recent reports that the first tranches under the EU loan program could reach Ukraine as early as May.
At the same time, Prime Minister Denys Shmyhal clarified that these loan funds would not be directed toward rebuilding the energy infrastructure destroyed by Russian strikes.
Ukrainian President Volodymyr Zelenskyy stated that Ukraine would allocate the first tranche to the development of domestic defense production. The production of drones and miltech technologies will be priority areas.
