The European Parliament voted on Wednesday to approve a total of 90 billion euros (around 107 billion U.S. dollars) in loan to fund Ukraine's financial needs for 2026 and 2027.
According to a communique issued by the parliament, the financial aid package would earmark 60 billion euros (71 billion U.S. dollars) to strengthen Ukraine's defense and support procurement of military equipment, while the remaining 30 billion euros (36 billion U.S. dollars) would be delivered as macro-financial assistance or budget support through the European Union (EU)'s Ukraine Facility.
The loan will be financed through EU borrowing on capital markets and backed by EU budget "headroom."
Ukrainian President Volodymyr Zelensky said Wednesday that if Russia agrees, a new round of peace talks could be held in the United States next Tuesday or Wednesday. Yet it remains unclear whether Russia will consent to holding the talks in the U.S.
Zelensky said he had accepted the U.S. proposal to hold talks next week aimed at ending the conflict, with negotiators likely to focus on the contentious issue of territory. The agenda includes a U.S.-proposed "free economic zone" in Ukraine's Donbas region to serve as a buffer zone. He said both Ukraine and Russia are skeptical of the idea, but Ukraine has not entirely ruled it out.
Zelensky also stated that talks held in Abu Dhabi, the United Arab Emirates earlier this month involving officials from Russia, Ukraine, and the U.S. were constructive, adding that the conflict could end within months if negotiations are conducted in good faith.
He noted that the U.S. administration wants all documents to be signed at once but stressed that the peace plan must be approved either by a vote in the Ukrainian parliament or through a national referendum.
European Parliament approves 90-billion-euro loan to aid Ukraine
