European Parliament to vote on €90bn loan for Ukraine on 11 February

On 11 February, MEPs plan to vote on a €90 billion loan for Ukraine to finance military expenditure, European Parliament President Roberta Metsola said on Monday.

Source: Politico, as reported by European Pravda

Details: The vote on the loan was originally scheduled for the end of this month but has been moved forward.

"There is an agreement among the political groups," Parliament spokeswoman Delphine Collard said before the opening of the plenary session.

The centre-right European People's Party, centre-left Socialists and Democrats, and the liberal Renew Europe party agreed to fast-track votes allowing the Commission to raise funds on the international debt market backed by the EU's long-term budget.

Quote from Politico: "The three groups' backing means the votes – including on changes to the EU's budget and to an existing Ukraine funding mechanism – will get the majority needed to pass."

Details: The vote had previously been due to take place at a special plenary session convened on 24 February to mark the fourth anniversary of Russia's full-scale invasion of Ukraine.

Background:

• On 19 December, the European Union summit approved a decision on a joint loan to provide Ukraine with €90 billion, which covers two-thirds of Ukraine's needs in 2026-27 in both the budgetary and defence sectors.
• On 4 February, EU member state ambassadors at the Committee of Permanent Representatives (Coreper) agreed on mechanisms for providing Ukraine with a €90 billion loan in 2026-27, including allowing third countries to participate.

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