European Union foreign policy chief Kaja Kallas expressed optimism Tuesday that a massive financial aid package for Ukraine worth 90 billion euros ($105.94 billion) will receive approval during Wednesday’s proceedings.
The loan package gained new momentum following the recent electoral loss of Hungarian Prime Minister Viktor Orban, who has been Ukraine’s strongest opponent within the EU. Ukraine desperately requires these funds to continue financing its ongoing conflict with Russia. All EU member nations had initially reached agreement on the loan back in December.
“We expect some positive decisions tomorrow on the 90 billion loan,” Kallas stated to media representatives on Tuesday during a gathering of EU foreign ministers in Luxembourg.
“Ukraine really needs this loan and it’s also a sign that Russia cannot outlast Ukraine. This is extremely important at this moment,” she added.
Irish Foreign Minister Helen McEntee shared similar sentiments about the urgency of the financial assistance.
“It’s really important as an EU that we make progress on the 90 billion euro loan, that we make progress on the 20th package of sanctions and that we’re able to exert as much pressure as possible on Russia,” she said.
“I was in Ukraine with a number of colleagues in recent weeks and what’s very clear is that we are at that breaking point where that loan is absolutely essential,” added McEntee.
