€90 billion loan for Ukraine. The European Parliament has authorized the use of the enhanced cooperation procedure

The European Parliament has given the "green light" to the European Council's decision to apply the enhanced cooperation procedure to grant Ukraine a loan of 90 billion euros. This was reported by reported Press service of the European Parliament.

499 parliamentarians voted in favor, 135 against, and 24 abstained.

"Since the Czech Republic, Hungary, and Slovakia refused to support the loan, the agreement [on the loan to Ukraine] was concluded under the enhanced cooperation procedure, a mechanism that allows willing EU member states to cooperate in specific areas. According to the treaties, the enhanced cooperation procedure requires the consent of the European Parliament," the press service explained.

• European Council, 18 December adopted a decision to support of Ukraine in the amount of 90 billion euros for 2026-2027. This is a preferential loan, which considered as an alternative to the reparations position, if the plan for using the frozen Russian assets does not work.
• The European Union every year will pay approximately 3 billion euros interest on borrowings to help Ukraine.
• On January 14, the European Commission adopted some legislative proposals regarding the provision of ongoing financial support to Ukraine in 2026 and 2027, in particular, the granting of a support loan of 90 billion euros to Ukraine.