The center-right European People’s Party, the center-left Socialists and Democrats, and the liberal Renew Europe all agreed to fast-track votes allowing the Commission to raise funds on the international debt market, backed by the EU’s long-term budget. The three groups’ backing means the votes — including on changes to the EU’s budget and to an existing Ukraine funding mechanism — will get the majority needed to pass.
Without the loan, Ukraine had risked running out of cash by April, which would have been catastrophic for its war effort amid ongoing U.S.-brokered peace talks.
The votes had previously been scheduled for a special plenary session called for Feb. 24 to mark the 4th anniversary of Russia’s full-scale invasion of Ukraine.