European Union member states are seeking to reach an agreement by the end of 2026 on a loan worth around €45 billion (yaani €4,500 crore) for Ukraine, to meet its financial needs and strengthen its defence capabilities in 2027, according to reporting by Politico on 26 October citing diplomatic sources and EU officials, carried by Vietnam News Agency (VNA) reporting from Prague.
Source: Stockbiz / VNA, citing Politico
Bytes Europe, also citing Politico, likewise reported that the EU wants to provide Ukraine with a new loan of €45 billion, but that Czechia and Slovakia do not intend to take part in the new credit mechanism.
Source: Bytes Europe, citing Politico
The option currently being considered is to raise funds on financial markets, using the EU's current budget as backing for the loan, VNA reported. The specific mechanism and the final size of the support package have yet to be decided, and EU leaders are expected to discuss the issue at a meeting on 26 November, after the European Commission presents its options.
Source: Stockbiz / VNA, citing Politico
The positions of the Czech Republic and Slovakia follow their decision not to join the €90 billion loan mechanism for Ukraine for 2026-2027 agreed in December 2025. According to the European Parliament's Research Service, that previous loan was raised through EU borrowing on financial markets with the EU budget as backing, and the Czech Republic, Slovakia and Hungary did not have to bear its related financial obligations under the enhanced cooperation mechanism, under which a group of member states can pursue cooperation without requiring all countries to participate.
Source: Stockbiz / VNA; European Parliament Research Service
Bytes Europe reported that Ukrainian President Volodymyr Zelenskyy asked European leaders in October for another €70 billion (yaani €7,000 crore) for next year, as the war drags on and defence spending rises. The reluctance of the Czech Republic and Slovakia to participate does not by itself mean the two countries can automatically prevent other member states from implementing a mechanism that complies with EU rules, VNA noted.
Source: Bytes Europe; Stockbiz / VNA
What is solid
- EU member states are seeking agreement by end-2026 on a loan of around €45 billion for Ukraine's 2027 needs (Politico, reported by VNA and Bytes Europe)
- Czechia and Slovakia do not want to join the new mechanism, according to Politico's reporting
- The earlier €90 billion loan for 2026-2027 was agreed in December 2025 (European Parliament Research Service)
What is only claimed
- The €45 billion figure, mechanism and timing come from Politico's reporting citing unnamed diplomatic sources and EU officials — no final EU decision has been taken, and the mechanism and final size remain undecided, as the reporting itself states