BRUSSELS: Hungary, the Czech Republic, and Slovakia have refused to participate in the EU’s 90 bln euros loan for Ukraine scheduled for 202...
BRUSSELS: Hungary, the Czech Republic, and Slovakia have refused to participate in the EU’s 90 bln euros loan for Ukraine scheduled for 2026-2027, according to a document publishes on the website of the EU Council.
"Today's decision was taken through the enhanced cooperation procedure with the participation of 24 member states," the document says.
The EU Council clarified that 30 bln euros of the money will be used to finance Ukraine's budget, and 60 bln euros will go to arms purchases. The European Commission will pay interest on the loan from the EU budget.
"To ensure the most favorable loan terms and to manage Ukraine’s debt sustainability, the interest cost of the loan is planned to be covered by the EU budget. This will not have an impact on the budget contributions of Czechia, Hungary and Slovakia, who have chosen not to take part in the enhanced cooperation," according to the document.
-News Feed
COMMENTS