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Non-legislative

€90 Billion Loan to Help Ukraine Defend and Rebuild

Published December 23, 2025

Goal: Help Ukraine recover

This resolution lets 26 EU countries give Ukraine a €90 billion loan to help it fight and rebuild after Russia’s war, with the money raised by the EU and backed by the EU budget, and lets other countries join in later if they want.

Budget
Budget

Proposal for a Council Decision on a €90 billion Loan for Ukraine

  • Date & Reference – 23 December 2025, COM(2025) 806 final (2025/0431(NLE)).

  • Purpose – Authorise a group of EU member states to create a loan for Ukraine to help it defend itself and rebuild after Russia’s war that began on 24 February 2022.

  • Key Numbers

  • Loan amount: €90 billion for the years 2026‑2027.

  • 26 member states (Belgium, Bulgaria, Denmark, Germany, Estonia, Croatia, Ireland, Greece, France, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Finland, Spain, Italy, Sweden) are the core participants.

  • 25 member states (all the above except one) sent a joint letter on 20 December 2025 asking the Commission to propose the loan.

  • The loan will be funded by EU borrowing on capital markets, backed by the EU budget headroom.

  • The loan is part of a package adopted on 3 December 2025 that also included a proposal to amend the Multi‑annual Financial Framework (MFF) for 2021‑2027 to allow extra budget headroom for Ukraine.

  • On 12 December 2025 the Council adopted Regulation (EU) 2025/2600 on emergency measures for Ukraine.

  • On 18 December 2025 the European Council confirmed the €90 billion loan and said it would not affect the financial obligations of Czech Republic, Hungary, and Slovakia.

  • Coreper (Council preparatory bodies) said on 19 December 2025 that the loan could only be achieved through enhanced cooperation, requiring unanimous agreement on the MFF amendment and the loan.

  • How it Works

  • The participating states will jointly provide the loan, with the EU budget guaranteeing the loan’s contingent liability.

  • Non‑participating states are not required to contribute to the loan or its guarantees.

  • New member states can join the enhanced cooperation at any time and will pay their share of the loan and guarantees from the date they join.

  • Legal Basis – The decision is based on Article 20 TEU (enhanced cooperation) and Article 212 TFEU (financial assistance to third countries).

  • Decision Entry into Force – The decision becomes effective on the day it is adopted.

  • Supporting Regulations – The decision references earlier EU measures that support Ukraine: macro‑financial assistance (Regulation 2022/2463), the Ukraine Facility (Regulation 2024/792), and the Ukraine Loan Cooperation Mechanism (Regulation 2024/2773).

Licensing: The summaries on this page are available under Creative Commons Attribution 4.0 (CC BY 4.0).

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