The European Union expects to take key decisions on a €90 billion ($105.94 billion) loan for Ukraine on Wednesday, its foreign policy chief Kaja Kallas said, as member states weigh urgent financial support for Kyiv’s war effort against Russia, says Reuters.
Speaking to reporters on Tuesday ahead of a meeting of EU foreign ministers in Luxembourg, Kallas signalled optimism that progress would be made on the long-discussed package, which was initially agreed by all member states in December.
“We expect some positive decisions tomorrow on the 90 billion loan,” she said.
The proposed financing is seen as critical for Ukraine as it continues to confront Russia’s invasion, with officials warning that delays could deepen pressure on Kyiv at a pivotal moment in the conflict.
“Ukraine really needs this loan and it’s also a sign that Russia cannot outlast Ukraine. This is extremely important at this moment,” Kallas added.
Momentum behind the proposal has been strengthened by political changes within the bloc.
The recent electoral defeat of Hungarian Prime Minister Viktor Orban, who had been one of the most vocal EU critics of support for Ukraine, could ease internal resistance and help clear the path for approval.
Orban had previously taken a hard line on assistance to Kyiv, complicating efforts to maintain unity among EU members on financial and military backing.
Irish Foreign Minister Helen McEntee also stressed the urgency of moving forward with the loan, linking it to broader efforts to maintain pressure on Moscow.
“It’s really important as an EU that we make progress on the 90-billion-euro loan, that we make progress on the 20th package of sanctions and that we’re able to exert as much pressure as possible on Russia,” she said.
McEntee said recent visits to Ukraine had underscored the severity of the situation on the ground and the importance of timely support.
“I was in Ukraine with a number of colleagues in recent weeks and what’s very clear is that we are at that breaking point where that loan is absolutely essential,” she added.
EU officials view the loan not only as financial assistance but also as a political signal of long-term commitment to Ukraine, particularly as the war shows no sign of abating.
Foreign ministers meeting in Luxembourg are expected to discuss both the loan and additional sanctions measures, including what would be the bloc’s 20th package targeting Russia.
The outcome of Wednesday’s discussions is likely to be closely watched, as the EU seeks to maintain cohesion in its response to the conflict while balancing internal political dynamics and external pressures.
While the loan had already secured initial agreement late last year, final decisions have been delayed amid divisions within the bloc.
Kallas’s comments suggest that those obstacles may now be easing, potentially allowing the EU to move ahead with one of its most significant financial commitments to Ukraine since the start of the war.
The proposed package underscores the scale of the financial strain facing Kyiv as it continues to fund military operations and maintain essential government functions under wartime conditions.
