EU vote set for Ukraine loan

European Union ambassadors are set to vote on April 22 on the last budget change needed to unlock a €90 billion loan for Ukraine. (eurointegration.com.ua) The vote is scheduled at the Committee of Permanent Representatives, known as Coreper, where member states’ ambassadors clear legislation before ministers formally sign off. Reuters reported on April 21 that European Union foreign policy chief Kaja Kallas expected “positive decisions” on the package on Wednesday, April 22. (consilium.europa.eu) (usnews.com) The money would cover Ukraine’s financing needs in 2026 and 2027 through European Union borrowing on capital markets. The European Commission proposed the package on January 14, and the European Parliament adopted the related legislation on February 11. (enlargement.ec.europa.eu) (europarl.europa.eu) One part of the package is a change to the European Union’s 2021-2027 long-term budget, called the Multiannual Financial Framework, so the bloc can guarantee the borrowing. Another part amends the Ukraine Facility, the European Union program already used to channel support to Kyiv. (europarl.europa.eu) (enlargement.ec.europa.eu) European Union leaders first agreed in principle on December 18, 2025, to provide the €90 billion loan. The mechanism uses joint European Union borrowing backed by budget headroom, with no financial obligations for Czechia, Hungary, and Slovakia under the enhanced-cooperation structure. (epthinktank.eu) (consilium.europa.eu) The Commission says the cooperation mechanism is to be financed by extraordinary revenues from immobilised Russian sovereign assets. The Council says those assets remain frozen and the European Union reserves the right to use them to repay the loan in line with European Union and international law. (commission.europa.eu) (consilium.europa.eu) Ukraine’s Finance Ministry said in February that €30 billion is meant for social spending and €60 billion for military support. It also said the first tranche was expected in the second quarter of 2026, which runs from April through June. (mof.gov.ua) (ec.europa.eu) Hungary had been the main holdout on the package, and Reuters reported on April 21 that diplomats saw room for movement after Prime Minister Viktor Orbán’s electoral defeat this month. Wednesday’s Coreper vote is the clearest test yet of whether that political obstacle has been removed. (usnews.com) (eurointegration.com.ua)