EU to vote on new 90 billion loan to Kiev

"In light of recent developments, the Presidency has included on the agenda of the Coreper II meeting on Wednesday 22 April, as a non-discussion item (and therefore for a vote, ed.), the amendment of the Multiannual Financial Framework regulation, the last element necessary to allow the disbursement of the €90 billion loan to Ukraine." This was announced by a spokesperson for the Cypriot presidency. "Once it is approved by Coreper, a written procedure will be launched for its final adoption," it is added regarding the green light for the loan, which has so far been blocked by Hungary.

EU Enlargement Commissioner Marta Kos said she was optimistic that the change of government in Hungary could unblock the process for Kiev's entry into the EU. "We are not wasting time on Ukraine's path to EU membership: we are now optimistic that, with the support of the new Hungarian government, the Council will soon be able to formally open all the negotiating groups," the Slovenian said in a hearing at the European Parliament's Foreign Affairs Committee.

"Just a fortnight ago," he added, "the Verkhovna Rada passed important legislation. This will release an additional EUR 2.7 billion in budget support under the Fund for Ukraine. This is a crucial moment to stabilise Ukraine's liquidity needs. The Rada session at the end of April offers a further opportunity to consolidate this positive trend." "We also expect that as soon as oil resumes flowing in the Druzhba pipeline, which could happen this week, we will be able to provide Ukraine with the long-awaited EUR 90bn loan," he concluded.