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EU Presents Alternative Funding Plan for Ukraine Amid Hungarian Blockade

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Key Points
  • The EU is presenting alternative funding plans for Ukraine using money earmarked for future member states.
  • Hungary remains the only EU member state blocking payment of a previously approved 900 billion kronor loan to Ukraine.
  • Ukrainian President Zelenskyy expressed confidence that the EU will find a solution to the funding impasse.

The European Union is presenting new plans to member state ambassadors in Brussels on Wednesday for how to provide financial assistance to Ukraine, according to reports. The proposal involves temporarily using funds earmarked for future EU member states, as reported by Politico Europe. EU Expansion Commissioner Marta Kos has reportedly urged Ukraine in a letter to quickly push through legislative packages that would enable the disbursement of approximately 40 billion Swedish kronor.

The EU has already approved a Ukraine loan of over 900 billion kronor, but Hungary is blocking, as the only member state, the payment of these funds. Ukrainian President Volodymyr Zelenskyy stated on Tuesday, according to AFP news agency, 'As far as I know, the EU is considering an alternative. ' EU Foreign Affairs Chief Kaja Kallas hopes for a solution in time for the next EU summit, which will be held in Cyprus on April 23-24.

As far as I know, the EU is considering an alternative. I think they will solve it.

Volodymyr Zelenskyy, Ukrainian President

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