The Belgian Prime Minister Bart De Wever (Flemish nationalist) says that he is proud that by being “constructive and steadfast” Belgium was able to make a contribution to an agreement of the provision of funds for Ukraine. On Thursday EU leaders agreed on the provision of a 90-billion-euro loan for Ukraine. The loan is guaranteed both the EU’s budget and frozen Russian assets.
Belgian PM says that EU loan is a victory for Ukraine, for Europe and for financial stability
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Mr De Wever was very wary on giving a loan to Ukraine solely from Russian frozen assets. A large portion of these assets are held at Euroclear in Brussels. Ultimately, the leaders decided to provide 90 billion euros through a joint loan on the financial markets. Ukraine can later repay the loan with Russian reparations or via the frozen Russian assets.
Speaking after Thursday’s EU summit, the Belgian Prime Minister said that the agreement was necessary as "Otherwise, we would have failed Ukraine and ourselves,". Mr De Wever also said he was proud "that we were able to contribute to a solution by being constructive and steadfast" and that this shows that "the voice of small and medium-sized countries counts too".
The decision reached was Belgium’s preferred option. However, it required unanimity. This unanimity was achieved by providing Hungary, Slovakia and the Czech Republic with an opt-out clause. These three countries have agreed to the principle of Europe lending money to Ukraine, but they do not have to contribute to the loan themselves.
The joint loan guarantees Ukraine's financing for both 2026 and 2027. From 2028, Europe intends to rely on the next multi-year budget to assist Kyiv.