Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes

Hungary to transfer $195mln to Ukraine as part of EU loan

  • By Al Mayadeen English
  • Source: Agencies
  • 24 Nov 2022 20:12
3 Min Read

Hungary signs a decree accepting the European Union's loan for Ukraine despite previously voicing criticism for the venture.

  • x
  • Hungarian Prime Minister Viktor Orban
    Hungarian Prime Minister Viktor Orban

Hungary is transferring €187 million ($195 million) to Ukraine as part of a European Parliament-approved $18 billion loan, a decree published in the government gazette said.

"The government... calls on the Finance Minister [Mihaly Varga] to take care of securing 187 million euros, which make up Hungary's share of the €18 billion euros loan the European Union will provide to Ukraine," the decree, signed by Prime Minister Viktor Orban, said.

Hungary's government directed Varga and Foreign Minister Peter Szijjarto to kick off negotiations with Kiev to draft an agreement on the matter, which would allow Ukraine to receive funds from Budapest.

The EU loan, obtained from financial markets, will be repaid in quarterly installments with the consistency and predictability needed to keep Ukraine afloat amid the conflict.

It is conditional for Ukraine. The country needs reforms to fortify its institutions and get it ready for both reconstruction and its path to EU membership.

The conditions include steps to combat corruption, judicial reform, respect for the rule of law, good governance, and institution modernization, all of which will be examined by the European Commission before each installment.

Before the Commission can access the markets and distribute the support in early 2023, the loan must now receive unanimous approval from the EU Council by December 6.

Related News

EU plans WTO alternative as Trump escalates tariffs: FT

France's Le Pen hosts European allies in show of far-right unity

€19.7 billion have been given to Ukraine by the EU and its member states, the majority of which came in the form of macrofinancial aid that was authorized by the European Parliament in September and July.

The loan is part of a plan for economic assistance to Ukraine proposed by the European Commission on November 9, though Hungary refused to support the proposal at the time, citing fears that the European Union was plunging itself into unsustainable debt.

"We are ready to continue to support Ukraine based on a bilateral agreement," Szijjarto said. "But we will certainly not support any kind of joint EU borrowing in this field."

"We have done so once already. We supported the loan the EU took out during the coronavirus pandemic, and that was more than enough," he explained.

Meanwhile, Hungary has been under EU sanctions, with the latter blocking a large sum of funds for the state.

Days Szijjarto's statements, European Parliament member Thierry Mariani said the EU had to release the delayed funding for Hungary in order for it to drop opposition to a new multibillion-dollar financial aid package for Ukraine.

He stressed that if the EU were to exert financial pressure on Hungary, it would run the risk of regressing its commitment to democracy.

Mariani accused Berlin and Paris of actively supporting Brussels as it increases pressure on member states that defy it by cutting off money due to perceived "illiberalism", while liberally supporting an outsider in Ukraine.

  • Hungary
  • Viktor Orban
  • Russia
  • European Parliament
  • Ukraine
  • European Commission
  • European Union
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS