European Commission President Ursula von der Leyen attends a debate at the European Parliament in Strasbourg, eastern France, on February 11, 2026. AFP
Lawmakers voted by 458 to 140 in favour of the loan, intended to cover two-thirds of Ukraine's financial needs for 2026 and 2027 and backed by the EU's common budget -- after plans to tap frozen Russian central bank assets fell by the wayside.
"Support for Ukraine rests on a small number of countries and most if it comes from Europe," centrist lawmaker Nathalie Loiseau said ahead of the vote.
"It is our honour -- and it's in our interest because our security is at stake," she said.
Under the scheme, Ukraine will be able to spend 60 billion euros of the loan on desperately-needed weapons to fight off Russia's army, with the rest earmarked for general budget support.
The EU has said Ukraine would only need to pay back the money once Moscow coughs up for the damages in the country.
Brussels will cover interest costs, expected to hover around three billion euros per year, through the EU budget.
Member states reached a deal last week on the conditions for the loan, paving the way for Kyiv to get the funds it needs in the coming months.
The European Commission is pushing for a first disbursement in April.
Meanwhile, a number of EU leaders including French President Emmanuel Macron have pushed to restart contacts with Russia's President Vladimir Putin as the United States forges ahead with efforts to end the Ukraine war.
Italian Prime Minister Giorgia Meloni has said a special envoy could be named for the negotiations.
On Tuesday, EU foreign affairs chief Kaja Kallas said she intended to circulate a list of "ideas" in the coming days to the EU's 27 member states, laying out the demands that should be made to Moscow.
"Let's discuss what we want to talk about with the Russians before we talk about who is going to be the one who is talking to the Russians," the EU top diplomat told a group interview that included AFP.
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