Hungary will transfer 187 million euros ($195 million) to Ukraine as part of an 18 billion loan that the European Parliament approved earlier in the day, according to a decree published in the government gazette
BUDAPEST (Pakistan Point News / Sputnik - 24th November, 2022) Hungary will transfer 187 million Euros ($195 million) to Ukraine as part of an 18 billion loan that the European Parliament approved earlier in the day, according to a decree published in the government gazette.
"The government... calls on the Finance Minister (Mihaly Varga) to take care of securing 187 million euros, which make up Hungary's share of the 18 billion euros loan that the European Union will provide to Ukraine," the decree, signed by Hungarian Prime Minister Viktor Orban, said.
The Hungarian government obligated Varga and Foreign Minister Peter Szijjarto to begin negotiations with the Ukrainian side to prepare an appropriate agreement, under which Kiev could receive funds from Budapest.
On November 9, the European Commission proposed a plan for economic assistance to Ukraine in 2023 in the amount of up to 18 billion euros. Hungary refused to support the proposal, citing fears that the EU is taking up unsustainable debt.
Earlier in the day, the EU Parliament approved the 18 billion euro ($18.7 billion) conditional loan for Ukraine to cover essential public services and rehabilitation of infrastructure throughout next year. The package, averaging 1.5 billion euros per month, is expected to help Ukraine cover a significant part of its funding needs in 2023, which the Ukrainian authorities and the International Monetary Fund estimate at 3 to 4 billion euros per month.
