The Ukrainian parliament, known as the Verkhovna Rada, is scheduled to convene on May 28 to ratify a memorandum for a €90 billion loan from the European Union. This significant financial support aims to bolster Ukraine’s economy amid ongoing challenges.
According to parliamentary member Oleksandr Zhelezniak, European Commission President Ursula von der Leyen announced today that the memorandum with Ukraine has been signed, prompting urgent discussions in the Ukrainian legislature.
Vasylievska-Smahliuk noted that the relevant resolution is currently being prepared. “It will be available on the website soon; the committee will present it for a vote in the morning,” Zhelezniak added.
In addition to the loan ratification, the agenda for the parliament’s session includes voting on amendments to the state budget for 2026, which will increase defense spending funded by the EU loan.
This spring, the EU approved a financial support package for Ukraine totaling €90 billion. This loan is expected to be repaid through future reparations from Russia due to its invasion of Ukraine.
Ukraine is set to receive €45 billion from this loan this year, with a significant portion allocated for military needs. Von der Leyen indicated that over €28 billion will be directed towards defense expenditures.
Following a conversation with von der Leyen, President Volodymyr Zelensky expressed hope that the first tranche of the loan would be disbursed as soon as possible, with a specific date already determined.
However, it is important to note that this EU loan is contingent upon meeting conditions set by the International Monetary Fund (IMF) as part of its support program for Ukraine. Recently, the parliament failed to pass a law regarding postal services, which was one of the IMF’s stipulations. This setback could potentially complicate Ukraine’s funding situation.
The Ukrainian parliament is set to ratify a €90 billion EU loan aimed at strengthening the economy and increasing defense spending. However, compliance with IMF conditions remains a concern after a recent legislative failure.