The European Commission does not support the early repayment of part of the €90 billion loan to Ukraine

The European Commission currently does not support the idea of ​​providing Ukraine with part of the EU loan of 90 billion euros, which is planned for 2027, ahead of schedule. Brussels emphasizes that the financing is designed for two years, and its provision is connected, in particular, with Ukraine’s implementation of the agreed reforms.

This was stated by the spokeswoman of the European Commission, Paula Pinho.

The financial support of 90 billion euros is designed for 2026-2027. It is assumed that the funds will be received by Ukraine during this period in approximately equal parts.

At the same time, Ukraine is interested in receiving part of the financing planned for 2027 ahead of schedule due to the significant needs of the state budget.

The European Commission is currently cautious about such a scenario.

According to Pinho, payments should be made within two years and accompanied by the implementation of the reforms stipulated in the agreements. The European Commission is currently focused on implementing the already agreed plan for financial support for Ukraine.

At the same time, Brussels recognizes Ukraine’s significant financial needs, in particular the need to ensure defense against the backdrop of Russian aggression.

Ukraine needs to cover its budget deficit

President Volodymyr Zelenskyy previously stated that the Ukrainian budget deficit in 2026 is about $27 billion.

Among the possible sources of its coverage, the head of state mentioned the use of frozen Russian assets or the early mobilization of part of the European funding planned for 2027.

In total, the EU loan of €90 billion should cover a significant part of Ukraine’s financial and budgetary needs in 2026–2027. It is expected that other international partners will join in providing the remaining necessary funding.

At the same time, the early use of funds planned for next year may increase Ukraine’s need for financing already in 2027. This is one of the reasons for the cautious attitude to such a scenario.

EU discusses Russian assets again

In parallel, European countries continue to look for alternative sources of financing for Ukraine.

Sweden, the Netherlands, Spain and Poland have called for a return to discussing the possibility of a wider use of frozen Russian sovereign assets to support Ukraine.

At the same time, Belgium, where a significant part of frozen Russian assets are stored, opposes the proposed mechanism for their use.

Thus, the issue of additional financing for Ukraine remains a subject of discussion in the EU, while the European Commission is currently focused on implementing the already agreed schedule for providing funds.