Sigma Live

ECOFIN: Agreement on €90 Billion Loan to Ukraine

Published February 17, 2026, 17:12
ECOFIN: Agreement on €90 Billion Loan to Ukraine

The Economic and Financial Affairs Council (ECOFIN) of the EU has agreed on a €90 billion loan to Ukraine, covering its funding needs for the years 2026 and 2027. The agreement, reached in cooperation with the European Parliament and the European Commission, provides for the disbursement of funds from the second quarter of this year. Cyprus’s Minister of Finance, Makis Keravnos, pointed out that the Cypriot Presidency worked to ensure immediate funding for Ukraine, which has been hit by the Russian invasion. The discussion focused on the economic impacts of the war and welcomed the agreement to support Ukraine. In addition, ECOFIN approved amendments to Lithuania’s Recovery and Resilience Plan, with the aim of accelerating its implementation. All Recovery and Resilience Plans of the member states have been approved, with disbursement of €394 billion, which corresponds to 68% of the total committed amount. As part of strengthening defence spending, the national escape clause was activated for Austria, while eight implementing decisions were approved under the European Security Action (SAFE), for the granting of affordable long-term loans. Finally, the Union list of non-cooperative tax jurisdictions was updated, with the addition of Vietnam and the Turks and Caicos Islands.