The head of the Ukrainian presidential office, Kyrylo Budanov, expressed optimism regarding the potential advancement of Ukraine’s request for a €90 billion loan from the European Union within the next few months. This statement came during a meeting with members of the CEO Club Ukraine, where he addressed inquiries about the current status of the loan.
Budanov acknowledged the urgency of the situation, noting, “As of now, there are no funds available. We can confirm this. I hope we can find a way to secure them. Recently, EU representatives promised a timeline that seemed relatively close. However, my personal assessment, without disclosing specific dates, is that it may be unlikely. Yet, I believe we will reach some resolution within six months. At least, we hope for that.”
When asked about alternative plans if the €90 billion loan does not materialize, Budanov mentioned that other financing mechanisms are available. He stated, “There are different options. If this route does not work, we can consider smaller amounts through different formats. It’s not a dead end. However, if we cannot secure this funding, it will present a challenge, albeit one with potential solutions.” He reassured that there would not be a catastrophic outcome.
During her visit to Ukraine, EU foreign affairs chief Josep Borrell indicated that the EU is working to resolve obstacles related to the approval of the 20th sanctions package against Russia and the provision of the €90 billion loan at the next European Council meeting.
At the EU summit on March 19, leaders did not finalize the multi-billion euro loan for Ukraine, which has been blocked by Hungarian Prime Minister Viktor Orban. Orban has maintained his stance despite facing criticism, asserting that Ukraine must first resume the transportation of Russian oil through the Druzhba pipeline.
Despite the ongoing blockade of the loan, European Commission President Ursula von der Leyen reiterated the EU’s commitment, stating, “We will fulfill our promise one way or another.”
Kyrylo Budanov, head of Ukraine's presidential office, indicated that the EU loan of €90 billion may progress in the coming months despite current challenges. Alternative financing options exist, but the situation remains critical as EU leaders continue to navigate political hurdles.