Renew Europe welcomed the overwhelming majority vote by the European Parliament last week to approve a landmark €90 billion support loan package for Ukraine.
The package ensures critical military and budgetary assistance in 2026 and 2027, demonstrating Europe's commitment to Ukraine's sovereignty and security at a pivotal moment.
In December, the European Council agreed to provide €90 billion for Ukraine's budgetary and military needs during 2026-27. The loan comprises €60 billion for military assistance and €30 billion for budget support, financed through EU borrowing with potential repayment from immobilised Russian assets.
Since Russia's illegal invasion, the EU has provided €193.3 billion in total support to Ukraine. Significantly, the agreement was reached through enhanced cooperation among 24 member states, demonstrating that the EU can overcome the absence of unanimity when urgent and essential decisions must be taken.
Karin Karlsbro MEP (Liberalerna, SE), European Parliament Rapporteur for economic support to Ukraine and coordinator in the International Trade Committee, stated:
"This package of 90 billion Euros is not only a support to Ukraine, it’s an investment in our common European future. Ukraine is our frontline and Ukrainians defend our freedom. This support is urgent and necessary, but it's not enough. That is why the EU must start the work of using the frozen Russian assets. It’s not a question of either or. We must continue until the day Ukraine has prevailed and Russia is defeated."
Petras Auštrevičius MEP (Liberalų sąjūdis, LT), shadow rapporteur for Ukraine in the European Parliament Committee on Foreign Affairs added:
“By approving this support loan, Europe is reaffirming its commitment to Ukraine as an integral part of the European security architecture. The €90 billion loan will provide Ukraine with some breathing space in 2026–27 by securing support for the national budget and ensuring the necessary defence funding. This unique loan also presents an opportunity to strengthen the cooperation between the defence industries of the EU Member States and Ukraine, and it is important that this opportunity is taken seriously in order to contribute to Europe’s strategic autonomy.”
Swift adoption was essential in order for the European Commission to begin disbursing funds in April. This urgent support will strengthen Ukraine's defence capabilities, ensure continued state functioning.
Crucially, the package also expands cooperation beyond the EU. Renew Europe welcomed the opening of the support loan to third countries that have signed SAFE cooperation agreements or security and defence agreements while providing significant military assistance to Ukraine.
This could include the United Kingdom, Japan and South Korea, who will contribute fairly to loan interest repayment. Recent developments have since seen Canada join the SAFE cooperation agreements.
Lucia Yar MEP (Progressive Slovakia, SK), Renew Europe shadow rapporteur for the European Parliament Committee on Budgets, concluded:
"With today's vote, we take a decisive step to secure Ukraine's financing for 2026 and 2027, covering its needs and providing much-needed predictability. By adjusting the EU's long-term budget, we ensure that support for Ukraine continues without delay and remains credible. Renew Europe stands firmly with Ukraine, while insisting that solidarity must be delivered responsibly and without undermining support for European citizens."