Ukraine Awaits EU Loan Amid Hungary's Standoff

Ukraine is waiting for the first installment of a 90-billion euro loan from the EU, which is delayed due to Hungary's veto. President Zelenskiy remains optimistic for partial funding by April. The funds are critical as the country faces a significant budget deficit due to ongoing conflict.

Ukraine anticipates the first tranche of a substantial 90-billion euro loan from the European Union next month, despite an unresolved stalemate with Hungary. President Volodymyr Zelenskiy expressed confidence on Friday, following an unsuccessful attempt by EU leaders to persuade Hungary's Prime Minister Viktor Orban to reverse his veto.

The loan is crucial for Ukraine's ongoing resistance against Russia's invasion, now in its fifth year. Zelenskiy discussed the matter with EU leaders, indicating optimistic prospects for partial funding by April. The conflict has severely strained Ukraine's finances, requiring between $45 billion and $52 billion in foreign aid this year to bridge its budget deficit.

The EU approved the loan last December, but Orban's objection links to a dispute over Russian oil supplies to Hungary. European Commission President Ursula von der Leyen assured that alternate solutions to honor the loan would be pursued. Ukraine's financial resilience remains critical, with previous aid and upcoming funds from Japan helping to manage immediate needs.

(With inputs from agencies.)