BRUSSELS, Nov. 9 () –
The European Commission has proposed this Wednesday a macro-financial aid of 18,000 million euros to Ukraine next year, a support that will take the form of loans under favorable conditions and that will be conditional on far-reaching reforms by kyiv, although the initiative that it needs the unanimity of the 27 to move forward is already colliding with the rejection of Hungary.
“The funds will ensure Ukraine the most stable and predictable financing possible,” defended the economic vice president of the Community Executive, Valdis Dombrovskis, who at a press conference in Brussels accompanied by the Budget Commissioner, Johannes Hahn, explained the details of the proposal.
Dombrovskis and Hahn have said they are aware of the liquidity urgency of the country at war with Russia to pay essential items such as salaries and pensions or water and energy, for which they have trusted that both the Council and the European Parliament will reach an agreement that allows this new instrument to be launched on time and the first payment to be disbursed in January 2023.
The macro-financial support will be conditional on specific reforms in areas such as the fight against corruption and the strengthening of the rule of law in the country, as well as investments for long-term reconstruction.
“But we must remember that Ukraine is a country at war, we must be realistic and flexible, focusing on what is most relevant and feasible to achieve,” warned the community vice president, before stressing that the conditionality applied to it must be “realistic ” and be “adapted to the circumstances”.
In order to go ahead, this project needs the unanimous approval of the Twenty-seven, but the Hungarian Government has already revealed this Wednesday its refusal to offer a joint loan to Ukraine and, through the Minister of the Interior, Gergely Gulyás, has warned that “there will be no decision” without your support.
Viktor Orban’s Executive maintains a tense pulse with its partners in the EU over access to community funds blocked by the anti-democratic drift in Hungary, although Budapest is processing judicial reforms against the clock to lift the bloc’s reserves.
In this context and asked about the veto threat, both Dombrovskis and Hahn have hoped that a solution will be achieved to overcome the stumbling blocks with Hungary, as has happened in previous difficult negotiations.
