EU approves €90bn Ukraine loan

The massive financial lifeline is intended to cover two-thirds of Ukraine's projected budget deficit through 2027.

Commission President Ursula von der Leyen confirmed that one-third of the funds would support the national budget, while two-thirds are earmarked for defense, specifically drone production.

The approval marks a significant diplomatic victory for President Zelenskyy, who attended the informal summit in Ayia Napa.

However, EU leaders remained firm in refusing any 'symbolic' shortcuts or fast-track procedures for Ukraine's full membership in the bloc.