EU approves €90bn Ukraine loan

The approval of the massive financial aid package marks a major diplomatic victory for Kyiv and ending months of political deadlock within the bloc.

European Commission President Ursula von der Leyen confirmed that the first tranche of funds will arrive before the end of June.

While the loan provides a vital lifeline, Ukrainian President Volodymyr Zelensky has cautioned that more help is still needed to address a projected $43 billion budget deficit.

The deal was reached during an informal summit in Cyprus, where leaders also discussed the potential for Ukraine to begin formal membership negotiations.