EU leaders agree on €90bn loan to Ukraine

European Union leaders agreed on Friday to provide a massive interest-free loan to Ukraine to meet its military and economic needs for the next two years, EU Council President Antonio Costa said.

“We have a deal. Decision to provide €90 billion of support to Ukraine for 2026-27 approved. We committed, we delivered,” Costa said in a post on social media, without providing details about how the money would be raised.

The EU leaders worked deep into Thursday night to reassure Belgium that they would provide guarantees to protect it from Russian retaliation if it backed the loan for Ukraine.