Hungary, Czech Republic and Slovakia refused to finance Ukraine for €90 billion

The Czech Republic, Hungary and Slovakia refused to participate in the €90 billion financing scheme for Ukraine. This was announced on February 4 by the press service of the Council of the European Union (EU).

"Today's decision was made within the framework of the extended cooperation procedure with the participation of 24 member states (out of 27 - Ed.). <...> This will not affect the budget contributions of the Czech Republic, Hungary and Slovakia, which decided not to participate in the extended cooperation," the message on the website of the European Council says.

The meeting also agreed on the legal framework for granting Ukraine a loan of €90 billion for 2026-2027. The financing will be carried out through borrowings on the capital markets and supported by the EU budget.

The loan is divided into two parts: €30 billion will be used for macroeconomic support, and €60 billion for investments in the defense industry and purchases of military equipment. It is noted that the funds will be available provided that Ukraine adheres to the rule of law and the fight against corruption.

"Now the Council will seek a quick agreement with Parliament on the final legal texts of the regulation implementing the support loan. <...> After completing all stages, the Commission will be able to make the first payment at the beginning of the second quarter of this year," the EU Council concluded.

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Russian Foreign Ministry spokeswoman Maria Zakharova said on December 25 last year that the EU leadership, which decided to send €90 billion to support Kiev instead of investing in Ukraine's development, was solely interested in continuing the conflict.

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