On Saturday, EU countries agreed on a billion-dollar package for war-torn Ukraine. In the course of the coming year, EUR 18 billion should flow to Kiev as a loan. The decision was taken despite Hungary’s vote against.
Originally, however, the aid package would have required a unanimous decision by the 27 countries. At least that is what the European Commission suggested. However, after the Hungarian government blocked the deal due to a possible freeze of funds for their own country, the Czech EU presidency looked for a new solution. It now appears that the guarantees for the loans are being taken over by the EU states themselves.
As a result, unanimity was no longer necessary to decide on the 18 billion euros for Ukraine. This would have been a condition if the EU budget had covered the guarantees, as originally intended. If Hungary does participate, this may change.
EU grants total €52 billion
The decision will be presented to the European Parliament next week. The money must then be paid next year as a loan to the Ukrainian government. For the first time since the start of the war, Europe has overtaken the United States in financial aid to Ukraine, according to a study by the Kieler Institute for the World Economy (IfW). So far, almost 52 billion euros would have flowed, the commitments from the US amount to almost 48 billion euros.
Source: Krone
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