The first tranche of the EU loan to Ukraine may be postponed until June
This has been reported by Suspilne, citing a source in European diplomatic circles.
The European Union may delay the first tranche of financial aid for Ukraine from the €90 billion loan until early June.
European Commissioner for Enlargement Marta Kos stated on 11 May that she hopes the first loan payments will be made as early as next week.
However, according to sources, the first tranche may not arrive until early June at the earliest.
Negotiations on the Memorandum of Understanding between Ukraine and the EU have already been concluded. The next stage is the approval of the document by the Verkhovna Rada and the European Commission.
European Commission spokesperson Balázs Újvári stated during a briefing that significant progress had been made in implementing the loan.
According to him, there are still a few steps to be taken, but the European Commission is set to make the first disbursement during the second quarter.
“We are talking about a payment of around €9 billion no later than June, that is, in the second quarter,” said Ujvári.
How the first tranche will be allocated
According to the European Commission spokesperson, the first payment will amount to around €9 billion.
Of this amount, €5.9 billion is planned to be allocated to defence purposes.
A further €3.2 billion is to be provided under the Microfinance Assistance Programme.
Ujvari also reported that at the start of the year, the European Commission received the first list of defence goods. Subsequent lists are currently under discussion.
What is known about the €90 billion loan
On 14 January, the European Commission approved amendments to the EU budget designed to cover a €90 billion loan to Ukraine using the EU’s reserve.
Ukraine needs this money to finance urgent needs in 2026–2027, in particular to support the state budget and strengthen defence capabilities.
On 23 April, President Volodymyr Zelenskyy announced the release of a €90 billion financial support package from the European Union over two years.
This is the largest loan from partner countries since the start of the full-scale war.
Ukraine will only have to repay it if Russia pays reparations.
Where will the €90 billion go?
The European Union plans to allocate most of the loan to Ukraine’s defence needs.
According to sources, €60 billion, or 3.10 trillion UAH, is to be spent on the procurement of weapons and the development of the defence sector.
In 2026, Ukraine is set to receive €28.3 billion, or 1.46 trillion hryvnias, from this sum.
A further €31.7 billion, or 1.64 trillion hryvnia, is earmarked for 2027.
These funds are to be placed in a special account held by the European Commission, which will procure weapons for Ukraine.
The remaining €30 billion, or 1.55 trillion UAH, is planned to be allocated to budgetary needs and several programmes.
In 2026, the budget is set to receive €16.7 billion, or 864 billion UAH.
Of this, €8.35 billion, or 432 billion hryvnias, will constitute direct macro-financial assistance. An equal amount is expected to be received through the Ukraine Facility programme.
The remaining amount – €13.3 billion, or 688 billion UAH – is expected to arrive in 2027. It is not yet known whether it will be structured in the same way.
What the Verkhovna Rada has approved
On 7 April, the Verkhovna Rada passed a bill extending the military levy for three years following the lifting of martial law.
These funds are to be channelled into a special state budget fund for the needs of the Armed Forces of Ukraine. This was one of the IMF’s requirements.
As reported by ThePublic, Ukraine is to begin repaying the €90 billion loan from the European Union only after Russia has paid reparations for war-related damages. If Moscow does not compensate for the damage, the EU will be able to use frozen Russian assets to repay the debt.
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