KYIV – Ukraine remains confident in receiving the first installment of a 90-billion-euro ($103.89 billion) EU loan next month, President Volodymyr Zelenskiy said Friday, even after Hungary’s veto derailed approval at this week’s summit.
EU leaders failed to sway Hungarian Prime Minister Viktor Orbán, whose blockade, tied to disputes over Russian oil transit, threatens Kyiv’s war chest against Russia’s ongoing invasion, now in its fifth year. Zelenskiy, after consulting EU counterparts, expressed optimism: “We are more optimistic. They will find ways to provide us with funding partially,” adding expectations for April’s tranche under the 2026 agreement.
The funding is vital amid Ukraine’s $45-52 billion budget deficit this year, with nearly 60% of early 2026 spending, 547.2 billion hryvnias ($12.4 billion) in January-February, devoted to defense. Recent aid includes $5.5 billion since January and $1.2 billion expected from Japan, but EU delays risk straining reserves despite short-term buffers.
European Commission President Ursula von der Leyen vowed post-summit to unlock the aid creatively, underscoring Brussels’ commitment as Kyiv’s primary backer navigates Orbán’s election-timed leverage.