European Union finance ministers will discuss a proposal of the European Commission to provide EUR18bn to Ukraine in 2023 in a specially created “macrofinancial support plus” format. It is not yet known whether a decision will be made.
This was told to journalists on the eve of a meeting of the Council on Economic and Financial Affairs, which will be held on Tuesday in Brussels, a European diplomat on the right of anonymity.
He explained that three legislative proposals will be discussed: macrofinancial aid plus (MFA+) and an amendment to the financial regulations, which must be passed by a qualified majority, and an amendment to the multiyear financial scheme, which must be passed unanimously. “Ministers will discuss these proposals and then decide whether or not to bring them to a vote. Tomorrow (Dec. 6 – IF-U) will be decisive. No decisions have been made as of today. We have to see tomorrow morning and decide how we will move forward, we have to see if there is an opportunity for the ministers to decide whether to put these issues to a vote or not,” detailed the interlocutor to the journalists.
He also recalled that the loans, which will be granted to Ukraine in 2023 in the amount of EUR18bn, will have a 10-year grace period. It is proposed that member states will cover the major part of interest expenses, while guarantees for these loans will be provided from the EU budget.
Relevant proposals were officially presented by the European Commission on November 9, followed by a vote in the European Parliament on November 24.
At the same time this proposal was opposed by Hungary. Thus, on December 2, Prime Minister Viktor Orban said that he “doesn’t want the European Union to become a community of debtor-states instead of a community of cooperating states. Instead, he suggested that all EU members use funds from their own budgets to help Ukraine through bilateral agreements.
It is not ruled out that it is at Budapest’s suggestion that the vote may be postponed to a later date.
