The first tranche of the EU loan to Ukraine, amounting to 5.9 billion euros, will be allocated to drones

The first tranche of 5.9 billion euros from the 90-billion-euro loan approved by the European Union is set to be disbursed to Ukraine this month for the purchase of drones. When allocating the funds, Ukraine’s needs are the top priority, and the €90 billion loan is already fully ready for disbursement. 

This was announced by EU High Representative for Foreign Affairs and Security Policy Kaja Kallas. At a press conference during an informal meeting of EU defense ministers in Cyprus, she noted that Hungary is lifting its veto on blocking €6.6 billion from the European Peace Facility. 

These funds are proposed to be used to reimburse member states for past arms deliveries, finance new joint procurements, and support the EUMAM Ukraine mission. The ministers also discussed deepening cooperation with Ukraine in the defense-industrial sector, particularly in the area of air defense—which is most urgently needed at present—combined with support for the production of Ukrainian systems in the EU and the establishment of European companies in Ukraine.

Source: UNN.

The European Commission has not confirmed reports that Hungary has lifted its veto on €6.6 billion from the European Peace Facility, which is earmarked for military support to Ukraine. Officials in Brussels state that they currently have no confirmed information regarding the release of these funds.

Hungary’s new Prime Minister, Péter Magyar, has made high-profile statements regarding the situation of the Hungarian national minority in Ukraine and the European Union’s future economic relations with the Russian Federation.