Ukraine could receive another €45 billion from EU: What money will be used for
Photo: The European Commission has proposed a mechanism to disburse another €45 billion to Ukraine (Getty Images)
The European Commission has launched a procedure under which EU countries must approve the remaining €45 billion of a loan for Ukraine. The funds are expected to be disbursed by the end of 2027, with most of the money going to the defense industry, Reuters reports.
The European Union had previously approved a €90 billion loan package for Ukraine through the end of 2027. Half of the amount is to be disbursed in 2026. On October 30, the European Commission proposed a mechanism for EU countries to approve the second half – €45 billion, or approximately $50.4 billion.
At the same time, the European Commission gave a positive assessment of the financing strategy presented by Ukraine.
-
€13.3 billion – to support the state budget;
-
€31.7 billion – to develop Ukraine's defense industry.
"With today's proposal, we are providing Ukraine with much-needed predictability and helping maintain essential public services," European Commission President Ursula von der Leyen said.
EU leaders agreed on the €90 billion loan in late 2025. The funds were raised through joint EU borrowing after an agreement could not be reached on using frozen Russian assets.
Ukraine was unable to accelerate the disbursements. In early October, according to the Financial Times, Brussels refused to release ahead of schedule the funds earmarked for 2027 and demanded that Kyiv first implement the promised reforms.
The fate of Russian assets remains a subject of dispute. According to the Financial Times, the US proposed that Europe unfreeze some of these funds and transfer them under Washington's control, but European countries refused.
