EU agrees to provide Ukraine with €90 billion
The European Union has agreed to provide Ukraine with €90 billion ($105.5 billion) for 2026 and 2027, European Council president Antonio Costa said.
“We have a deal,” Mr Costa said in a post on social media platform X in the early hours of Friday. “Decision to provide 90 billion euros of support to Ukraine for 2026-27 approved. We committed, we delivered.”
EU leaders gathered in Brussels reached a compromise after plans to use billions of euros in frozen Russian state assets to cover Ukraine’s financing needs for the coming years failed to gain the necessary backing.
Ukraine will only have to repay the new loan once Russia has paid reparations, said German Chancellor Friedrich Merz after the meeting.
Should Moscow fail to provide reparations, the frozen Russian will be used to repay the loan, Mr Merz said.
Ukrainian President Volodymyr Zelensky has urged EU leaders to find a swift solution for Kyiv’s financial needs.
Without new funding, Ukraine was at risk of running a deficit of €45 billion-€50 billion next year and of having to scale back its military production, he said after an exchange with EU leaders.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 2
Ooni of Ife pays tribute to late elder brother, says his death created irreplaceable vacuum
The monarch prayed for the departed soul to rest in peace and for comfort for his immediate family, friends, business associates and everyone whose lives he impacted.
Africa
Information minister congratulates Ibietan on re-election as APRA scribe
Mr Idris described Mr Ibietan’s re-election as a well-deserved recognition of his professionalism.
States
Niger governor donates N100 million to IBBU’s College of Medicine, 41 pioneer medical students
Mr Bagana stated that the 41 pioneer medical students of the institution comprised 21 males and 20 females.
Politics
2027: Minister vows to mobilise one million votes for Tinubu, Radda in Katsina
Mr Rabe-Darma vowed to mobilise over one million votes for President Bola Tinubu and Governor Dikko Radda ahead of the 2027 elections.
Heading 5
Mamdani considers arresting Israeli PM Netanyahu if he visits New York
Mr Mamdani said his administration’s legal department is weighing the option of arresting the Israeli leader as determined by the law.
Lagos
LAWMA unveils reforms to end waste backlog in Lagos
He said conventional dumpsites were no longer sustainable because of Lagos’ coastal terrain, limited land availability and growing urban population.
