Delays in EU loan threaten Ukraine's winter preparations, Zelenskyy says
Photo: Volodymyr Zelenskyy, President of Ukraine (Getty Images)
Ukraine may fail to prepare for winter as European Union countries have not yet finalized approval of a €90 billion loan, Ukrainian President Volodymyr Zelenskyy said during a press conference with Bulgaria’s acting prime minister Andrey Gyurov.
Salaries and pensions
The Ukrainian President assured that there are sufficient funds for salaries, army financing, and pensions, even though Ukraine has not yet begun receiving the promised €90 billion from the EU.
Risks to winter preparations
According to him, the main risks concern preparations for winter. A plan has already been developed that provides for both the physical protection of critical infrastructure and protection through air defense systems. Its total cost is $5.1 billion.
"We expected that this amount would be fully or partially covered by these funds," the President noted.
He explained that preparing for winter is a long-term process that must begin as soon as possible.
"I expected that we would approve all plans in March… and that has happened… We must start building everything from April 1. We must begin the work, but it will not be on a large scale due to a lack of funding. So this delay poses a threat to winter preparedness. We are now tasked with finding maximum financing," Zelenskyy stressed.
First tranche
He added that European leaders must resolve the issue of the first tranche for Ukraine, amounting to €45 billion.
"We can talk a lot about supporting Ukraine and defense, while at the same time, the funds for that support and defense are blocked. We strongly believe that European leaders are much stronger together than any single individual," Zelenskyy said.
Hungary’s veto
Ukraine has been unable to receive the €90 billion EU loan because Hungary is blocking the procedural decision needed to release the funds.
Hungarian authorities have issued an ultimatum: the funds will be provided only after oil supplies to Hungary via the Druzhba pipeline are restored.
The Druzhba pipeline was damaged in a Russian attack in late January. Since then, oil supplies from Russia to Hungary and Slovakia have been halted.
