On October 23, 2024, European Parliament approves with 518 votes in favor, 56 against and 61 abstentions new macro-financial assistance (MFA) for Ukraine. Loan up to €35 billion as part of G7 $50 billion package.
Vote: 518 in favor, 56 against, 61 abstentions. Large majority.
€35 billion loan: Part of G7 $50 billion package. Repayment guaranteed by future profits generated from €210 billion frozen Russian assets in EU.
Ukraine Loan Cooperation Mechanism (ULCM): Legal structure to manage loan. Coordination with USA, UK, Canada, Japan.
Repayment deadline: Loan has maturity up to 45 years. Assumes Russian assets will remain frozen for decades.
Fund use: State budget, critical infrastructure reconstruction, humanitarian support, reforms.
First disbursements: January 2025 first €3 billion. Plan: €35 billion by end 2025.