Hungary Backs EU financial Assistance for Ukraine

Ukraine Crisis

Mihály Varga

Photo by Alexandros Michailidis / Shutterstock.com

Hungary, like other member states, is prepared to support with guarantees European Union financial assistance for Ukraine, Finance Minister Mihály Varga said after an informal meeting of EU finance ministers in Prague on Friday, according to a report by state news wire MTI.

In a statement issued by his ministry, Varga noted that Hungary has so far offered over HUF 28 billion in aid to Ukraine, while welcoming more than 900,000 refugees.

At the meeting on Friday, the ministers committed to transferring a further EUR 5 bln in macro-financial assistance (MFA) loans as the second part of an exceptional MFA package up to EUR 9 bln endorsed by the European Council early in the year, the ministry said. It noted that EUR 1 bln of the MFA package was disbursed in August and another EUR 3 bln could follow in the course of the year.

Varga noted that Hungary, as a neighboring country to Ukraine, is taking on a number of material burdens that other member states are not, and that fact should be taken into account in the matter of common assistance.

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