The EU may begin disbursing funds to Ukraine under the €90 billion loan as early as the beginning of April
The European Union could begin disbursing funds to Ukraine under a €90 billion loan as early as the beginning of April, but the process is still being held up by Hungary's stance.
This was reported by the European Council.
During the EU summit, leaders welcomed the legislative approval of this financial package and expect the first tranche to be disbursed in the near future.
At the same time, the European Union called for intensified cooperation with third countries to cover Ukraine’s funding shortfall, currently estimated at €30 billion.
Thus, despite the formal adoption of the decision, the full launch of the financing mechanism depends on overcoming political differences within the EU.
Ukraine has sufficient budgetary resources to continue financing government spending and defense at least until early May. Meanwhile, the European Union has additional time to resolve the issue of Hungary’s veto on the allocation of a €90 billion loan to Ukraine.
As a reminder, Polish Prime Minister Donald Tusk stated that Europe can use the €90 billion in financial aid for Ukraine without additional approval from Hungary, since this decision has already been supported by all countries, including Budapest.
