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Hungary to contribute to 18-bn-euro aid from EU

However, Hungary wants to pay its part on a bilateral basis, not through a joint loan.

Hungary to contribute to 18-bn-euro aid from EU

Hungary has approved financial assistance to Ukraine of €187 million and its contribution to the planned EU support package worth up to €18 billion in 2023, Reuters reports.

Prime Minister Viktor Orban's government has said it was willing to pay its share of support for Ukraine but would rather pay it bilaterally than through the EU's joint borrowing.

The decree, signed by Orban, also says that Hungarian Foreign Minister Peter Szijjarto should start talks with Ukraine to work out an agreement needed for the financial assistance.

To secure the funds for the loans, which Ukraine will have to repay within 35 years, the European Commission would borrow on the capital markets.

However, proposals for the package will need to be approved by the European Parliament and the EU's 27 member states. Hungary said it would not take part in joint borrowing.

On 9 November, Hungary blocked the EU's plan for €18 billion in aid to Ukraine.

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