Permalink EU Preparing $22Bln Plan to Sidestep Hungary's Veto to Fund Ukraine

The European Union is preparing a debt-funded back-up plan worth up to 20 billion euros ($22 billion) to sidestep Hungarian Prime Minister Viktor Orban's objections and quickly release money for Kiev, Financial Times reported on Tuesday, citing officials in talks. | In mid-December, Orban vetoed an increase in the EU budget for 2024-2027, including 50 billion euros in macro-financial aid to Kiev. On December 18, European Council President Charles Michel said that a new extraordinary EU summit to discuss financial aid to Ukraine would take place in Brussels on February 1. [...] EU officials have since been searching for alternatives to provide Ukraine with funds, and one model funded by debt has gained traction as the most practical way to provide support in the event of the Hungarian prime minister using his veto right at a planned summit on February 1,


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