European Commission (EC) official Valdis Dombrovskis announced that the European Commission and Ukraine signed a memorandum of understanding on Wednesday regarding a €90 billion loan package for Kyiv covering the years 2026 and 2027.
In a statement shared on his X social media account, European Commissioner for Economy Valdis Dombrovskis said:
“The signing of the memorandum of understanding on macro-financial assistance today brings us one step closer to the first installment of the support loan for Ukraine. As promised, the first tranche of budget support will be disbursed in the second quarter.”
The EU official stated that the assistance “will strengthen Ukraine’s economic resilience, increase domestic revenues, and reinforce anti-corruption efforts.”
Previous statements indicated that €6 billion of the initial €9 billion tranche of the loan would be allocated to the procurement and production of drones (UAVs) for Kyiv.