Brussels: The European Parliament, on Wednesday, approved a EUR 90 billion loan to support Ukraine in the war against Russia, including financing military equipment procurement. The 2026 and 2027 loan received 458 votes in favor, 140 against, and 44 abstentions.

According to Qatar News Agency, the loan will be financed through common European Union (EU) borrowing from capital markets, while debt-servicing costs will be covered by the EU's annual budgets. Ukraine is set to repay the loan's principal from war reparations to be received from Russia.

Around EUR 60 billion of the loan will be allocated to defense, and EUR 30 billion to support Ukraine's general budget, with priority given to purchasing equipment from EU member states and partner countries. The first installment is set to be disbursed in Q2 of 2026 after the necessary legal approvals are completed.