The European Union is exploring three alternative methods to provide $54.3 billion in aid to Ukraine, should Hungary veto the proposal.
Ukraine's ambassador to the EU, Vsevolod Chentsov, outlined these options on January 18.
Option A: Creation of a four-year fund for Ukraine within the EU budget.
Option B: An extra-budgetary fund where EU member states can contribute.
Option C: The European Commission borrowing funds under its guarantee, allowing macrofinancial support through periodic borrowings from the Commission.
Hungary is aware of these alternatives, and the EU prefers Option A for its convenience and lower cost. Chentsov believes Option A will likely be adopted, possibly with some safeguards or financial metrics review.
Despite the uncertainty of the aid's approval, bilateral assistance remains a possibility.
The EU is confident in approving the €50 ($54.3 USD) billion aid for Ukraine within a few weeks, as reported by NV on January 17.
Hungary, led by Prime Minister Orban, had previously blocked the adoption of an EU budget decision, which included a medium-term aid program for Ukraine, at the EU summit in December.
However, the EU is preparing an alternative plan to provide Ukraine with €20 billion ($21.74 billion) in financial support, bypassing Orban's veto, if needed. This mechanism could be employed if Orban's veto persists at the planned summit on February 1.