The European Union (EU) has sent Ukraine the first €3 billion from the €18 billion loan package, however, the Czech Finance Minister, Zbyněk Stanjura, has admitted that this amount may not be enough. The €18 billion aid package for Ukraine was approved in December 2022 after difficult negotiations.

The loan package was designed so that the EU can provide Ukraine with a monthly financial loan, but the agreed amount may not be enough to meet the needs of Ukraine, given the ongoing attacks by the Russian army on Ukraine’s infrastructure and residential areas.

The Czech Republic, which held the Council of the EU Presidency in the second half of 2022, negotiated the aid package for Ukraine, with the only country actively blocking the support being Hungary. The EU had to borrow the money and provide guarantees in order to afford assistance to Ukraine.

The discussion among ministers on further aid for Ukraine was brief, but Stanjura believes that many countries share the same view as the Czech Republic and it is a majority of countries.

Article by Prague Forum