EU promises to provide Ukraine with funding no later than March - media
Kyiv • UNN
With Hungary blocking a €50 billion financial aid package for Ukraine, EU leaders are preparing contingency plans.
In 2024, Kyiv needs new long-term financial support packages to continue to deter Russian aggression. This was reported by Euractiv, according to UNN .
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The publication reminded that last December, Ukrainian President Volodymyr Zelenskyy emphasized that financial support is important for Kyiv in times of war. He also warned that Moscow expects the unity of the West in supporting Ukraine to fall apart.
The journalists add that the lack of financial support from the EU and the US may lead to problems with the salaries of civil servants.
EU leaders are eager to agree on a new package of support for Ukraine, so they are calling a new summit for February 1 to agree on the bloc's budget and a €50 billion financial aid package for Ukraine.
Citing its own insiders in the EU, the newspaper writes that Europe has promised Kyiv to provide funding no later than March of this year.
Addendum
As the journalists explained, the West is seeking to agree on a 50 billion euro support package, which is currently being blocked by Hungary. At the same time, EU leaders have several several backup options, including the provision of guarantees to the EU budget by member states.
This is expected to allow the European Commission to lend up to €20 billion in capital markets to Ukraine this year.
Recall
The IMF emphasizes the importance of timely international financial assistance for Ukraine, noting the risks of inflation and spending cuts without it.
In particular, the director of the IMF's European Department emphasized that Ukraine should receive assistance from international partners in the first quarter of 2024.