Hungary refuses a pan-European loan for Ukraine
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Hungary will not support the EU’s plan to provide a new financial assistance package to Ukraine in its current form, Prime Minister Viktor Orban said.
“Hungary does not agree that the EU member states jointly provide loans to help Ukraine,” he said (cit. according to RIA Novosti). According to him, Budapest is in support of Kyiv, but he will not put “Ukrainian interests above the interests of his country.”
Instead of a pan-European loan, Orban proposes to “proportionately and fairly” distribute the total amount that is planned to be allocated to Ukraine among the EU countries. In particular, the Prime Minister noted that Hungary is ready to allocate about 14 million euros from its budget to Ukraine every year. According to him, such an amount will not harm the national interests of the country.
The EU intends to disburse most of the promised financial assistance to Ukraine in 2023 in the amount of 18 billion euros in the form of loans with a 10-year grace period, which is planned to be repaid quarterly. It is expected that the amount of 18 billion euros of loans and grants should cover about half of the Ukrainian budget deficit in 2023.
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