Slovakia and Hungary refuse to fund possible EU loan for Ukraine in 2027
Photo: Slovak Prime Minister Robert Fico (Getty Images)
Against the backdrop of significant war-related expenses, Ukraine is asking the European Union for a new loan of €70 billion. Slovakia and Hungary have stated that they will not participate in its financing, according to Dennik.
According to him, the Hungarian Prime Minister, Péter Magyar, shares this view.
How much money Ukraine asking EU for
During the summit in Brussels, Ukrainian President Volodymyr Zelenskyy stated that the war would cost the country €155 billion next year. He called on the Presidents and Prime Ministers of EU member states to find the necessary funds to continue supporting Ukraine.
At the same time, the EU has already promised Ukraine a loan of 90 billion euros. It is intended to help cover the country's urgent financial needs in 2026–2027. The European Commission is disbursing these funds gradually.
What Fico says about funding for Ukraine
The Slovak Prime Minister comments on the negotiations regarding the EU's long-term budget for 2028–2034. According to him, member states are still far from agreeing on a common position.
Fico believes it will be difficult to reach an agreement by the end of the year. This is precisely the timeline anticipated by European Council President António Costa.
At the same time, the Slovak Prime Minister calls it dangerous to link negotiations on the EU's future budget to funding for Ukraine.
He says that Slovakia is ready to support Ukraine in other ways. Among possible areas, he mentions projects in education, road infrastructure, and the development of energy connections.
Fico also criticizes what he sees as a lack of attention paid during the Brussels summit to peace initiatives and ending the war between Russia and Ukraine.
On October 14, the European Union allocated an additional €2.86 billion to Ukraine for defense needs as part of the Ukraine Support Loan.
The funds will be used to purchase drones, air defense systems, missiles, radar stations, electronic warfare equipment, and ammunition.
In addition, on October 7, Ukraine received another €1.2 billion from the European Union under the same program.
