Hungary to support Ukraine with EUR 187 mln in financial aid

Hungary will provide EUR 187 mln in financial aid to Ukraine as its contribution to a planned EU support package worth up to EUR 18 bn in 2023, according to a government decree published late on Wednesday.

Prime Minister Viktor Orbán’s government has said that it was willing to pay its share of support for Ukraine but would rather pay it bilaterally than through the EU’s joint borrowing.

“The government continues to be committed to take part in financial support to war-gripped Ukraine,” the decree reads.

❗️As announced earlier, it’s now confirmed by a government decision:

We will provide the €187 MM to Ukraine that would be Hungary’s share of the planned €18 BN joint EU loan through bilateral means from the national budget, but not through another joint EU loan.

— Balázs Orbán (@BalazsOrban_HU) November 24, 2022

The document, signed by PM Orbán, also says that Hungarian Foreign Minister Péter Szijjártó should start talks with Ukraine to work out an agreement needed for the financial assistance.

Budapest not to participate in joint borrowing

To secure the funds for the loans, which Ukraine will have to repay within 35 years, the European Commission would borrow on the capital markets.

However, proposals for the package will need to be approved by the European Parliament and the EU’s 27 member states, and Hungary said it would not take part in joint borrowing.