The MEPs voted on Tuesday to fast-track European Parliament procedures on a proposed €90 billion EU loan package to support Ukraine.
The proposal would create an EU support loan for Ukraine financed by common EU borrowing from capital markets and guaranteed by the “headroom” of the EU budget — the margin between the EU’s spending ceiling and its maximum revenue-raising capacity, the parliamentary press service said in a report.
If adopted, the new instrument would provide military assistance and general budget support to the government in Kyiv, as well as backing for Ukraine’s defence industry and its integration into the European Defence Industrial Base.
The MEPs also agreed to fast-track work on an accompanying proposal to amend the Ukraine Facility, the EU’s financial support programme for Ukraine.
Final vote scheduled for Wednesday
In parallel, Parliament decided to fast-track consideration of a Council decision to use the EU’s “enhanced cooperation” procedure, which allows a group of member states to move ahead together when not all countries participate.
Under that plan, 24 member states — excluding Czechia, Hungary and Slovakia — would be able to provide Ukraine with the proposed loan, it added.
The proposal on enhanced cooperation is due to be put to a final vote by MEPs on Wednesday, 21 January.
The loan would then need to be agreed between the European Parliament and the Council under the ordinary legislative procedure.
