27 November 2022

Ukraine to Receive 186 Million Euros in Aid from Hungary

But I thought Orban and Hungary were Putin's fair-haired boy in the EU, his 'mole' or fifth column. It turns out that may not be the case.

From The European Conservative

By Robert Semonsen

Hungary's generous assistance comes despite the fact that it's been maligned repeatedly as a "trojan horse" of Russia.

The Hungarian government, which has been repeatedly slandered as Russia’s ‘trojan horse’ inside of the EU, has announced that it will provide Ukraine with 186 million euros in financial aid as a part of its contribution to the EU’s planned aid package.

In a decree published on Wednesday evening, Hungarian Prime Minister Viktor Orbán’s government stated that although it is more than willing to pay its share of support for Ukraine, it prefers to transfer the funds bilaterally rather than through the European Union, Reuters reports.

The government decree reads:

The government continues to be committed to take part in financial support to war-gripped Ukraine. So, it calls on the finance minister to make sure to provide the 187 million euros that would be Hungary’s share in the 18 billion euros EU loan to be granted to Ukraine.

The decree, signed by the Hungarian prime minister, also notes that Foreign Minister Peter Sziijarto ought to begin discussions with the Ukrainian government to figure out an arrangement needed for further financial aid packages to be transferred.

To secure the loan’s funds, which the Ukrainian government will need to pay back over the next 35 years, the European Commission will borrow on the capital markets.

Before the funds are secured and then dispersed, however, the European Parliament and the European Council will need to approve the package. The Hungarian government has previously stated that it will not participate in joint borrowing.

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