The EU is set to disburse 3.2 billion euros ($3.7 billion) in budgetary aid to Ukraine next month, the first such payment under a giant loan approved in April, the bloc’s economy chief said Wednesday.
Valdis Dombrovskis told reporters that Brussels “will proceed with a first MFA instalment around mid-June”, referring to the macro-financial assistance component of a 90-billion-euro loan also covering Kyiv’s defense needs.
The 90-billion-euro loan helps meet Ukraine’s military and financial needs for the next two years.
The EU in April gave its final approval to the loan for Ukraine and imposed a new round of sanctions on Russia in a boost for Kyiv. The measures were approved following Hungary and Slovakia dropped their objections to the loan.
Prior to that, Hungary had vetoed on the 90-billion-euro ($106 billion) loan package, and Hungary and Slovakia had accused Ukraine of failing to repair a damaged pipeline that shipped Russian oil to their countries, cutting their supplies.
Later, Ukraine restarted oil flows to Hungary and Slovakia after repairing the damaged pipeline. (AFP)
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