EU covers two-thirds of Ukraine’s financial needs, — Dombrovskis
The EU continues to work on unblocking the loan for Ukraine.
This was stated by European Commissioner for Economic Affairs Valdis Dombrovskis, according to Censor.NET with reference to Ukrinform.
Details
"We remain firmly committed to supporting Ukraine and exerting maximum pressure on Russia. Since our last meeting, two parts of the legislative package on the loan to support Ukraine have entered into force, namely: the provisions on the loan to support Ukraine and the amendment to the provisions on the Ukraine Facility," he said.
According to Dombrovskis, the EU is working with the Ukrainian authorities to finalize the Financial Strategy and Memorandum of Understanding, which set out the conditions for Ukraine to receive the loan.
This will facilitate the disbursement of funds once the legislative process in the EU has been completed, he added.
Dombrovskis noted that at today's meeting of the EU Council, member states reached broad agreement on the urgent need to promote a loan to support Ukraine.
"We expect all leaders to fulfill their commitments," said the European Commissioner.
Assistance from the EU
Dombrovskis noted that EU financial support covers about two-thirds of Ukraine's urgent financial needs.
"That is why we are continuing our cooperation with other supporters of Ukraine ahead of the spring meetings of the IMF and the World Bank," he stressed.
"The only legislative act that has not been considered is the amendment to the regulation on multiannual financial policy, and it is necessary for the European Commission to be able to enter the markets and actually borrow funds, and then provide this financing to Ukraine," Dombrovskis added.
He explained that the intention was to start paying out the loan in April: "From this point of view, since it is now the first half of March, this work needs to be completed. Therefore, we are continuing intensive discussions."
He acknowledged that this is not the first time the EU has faced such difficulties with Hungary, which has previously blocked financial support packages and sanctions.
"In the end, we have always managed to break the deadlock, and I hope that will be the case this time too," the European Commissioner concluded.
Orbán blocks loan for Ukraine
- Recall that the Hungarian prime minister is blocking a €90 billion loan to Ukraine, accusing Kyiv of deliberately blocking oil transit from Russia through the Druzhba pipeline, which was damaged as a result of Russian attacks.
- The day before, President Volodymyr Zelenskyy, hinting at Orbán, said that if the EU's €90 billion loan to Ukraine continues to be blocked, "the address of this person" will be provided to the Armed Forces of Ukraine.
