Zelenskyy: €90bn from EU will strengthen Ukraine's military and economy

President Volodymyr Zelenskyy has welcomed the European Union's decision to grant Ukraine a €90 billion loan in 2026-27.

Source: Zelenskyy on social media, as reported by European Pravda

Details: On 23 April, the Council of the EU adopted amendments to the EU's 2021-27 long-term budget through a written procedure, enabling a €90 billion loan to Ukraine in 2026-27. The EU's 20th sanctions package against Russia has also been approved.

"Today is an important day for our defence and for our relations with the European Union," Zelenskyy said. "The European support loan for Ukraine has been unblocked – €90 billion over two years. This package will strengthen our army, make Ukraine more resilient and enable us to fulfil our social obligations to Ukrainians, as set out in law."

Zelenskyy said work is underway to ensure that the first tranche of this support package is available as early as May or June.

"The funds from the European package will be directed, among other priorities, to arms production, the procurement of necessary weapons from partners that we do not yet produce in Ukraine, and the preparation of our energy sector and critical infrastructure for the next winter," he tweeted.

Zelenskyy also announced that further discussions with Kyiv's partners are planned during meetings in Cyprus and that additional sanctions pressure will be placed on Russia.

Quote from Zelenskyy: "The 20th package has been unblocked, and it must be followed by other sanctions steps. And we will continue exploring a new format of cooperation with our partners – Drone Deals – which has already proven effective in the Middle East and the Gulf."

Background:

• On 23 April, Zelenskyy arrived in Cyprus to attend a special meeting of European Union leaders in person.
• Prior to this, it had been officially announced that he would participate remotely.

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