Blocked EU loan imperils winter preparations, Zelenskyy says
Volodymyr Zelenskyy (Photo: REUTERS/Valentyn Ogirenko)
EU’s EUR90 billion ($104 billion) loan, currently blocked
by Hungary, is essential for hardening Ukrainian infrastructure ahead of Russia’s
winter bombing campaign, President Volodymyr Zelenskyy said on March 30.
Speaking at a joint news conference with acting Bulgarian PM Andrey Gyurov, Zelenskyy said that Ukraine’s budget currently covers military expenses and salaries, but the country has been relying on EU funding to pay for energy infrastructure protection plan this year.
“What risks [with missing EU funding] do I see? The biggest is preparing for winter,” Suspilne public broadcaster quoted the president. He said the plan, designed to protect energy and water supplies and to complete at least the physical defenses before winter, includes air defense measures and would cost about $5.1 billion. Ukrainian officials had expected that amount to be covered wholly or largely by the EU funds.
Work to secure critical infrastructure was to begin April 1
but will be delayed because of the delay, Zelenskyy said. He added that while
lawmakers are looking for alternative financing and may vote for additional
taxes, decisions on the first tranche of about EUR45 billion will depend on EU
leaders.
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