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EU Aims to Offer Ukraine More Predictable Support

relates to EU Aims to Offer Ukraine More Predictable Support

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

The Commission will propose a new €18 billion package tomorrow to cover part of Ukraine’s financial needs for next year. The plan seeks to provide more stable and predictable support, we’re told, as the bloc has been criticized by the US and Kyiv over delays to release a part of the funds promised early this year. But the changes to the EU budgetary framework required to guarantee the concessionary loans face difficult approval after Hungary said yesterday that it wouldn’t support more joint funds for Ukraine. The veto threat came as Budapest fights with the bloc to access recovery funds, with a key college meeting on Nov. 22. Further delays in Europe may complicate new disbursements in Washington, where the new Congress to emerge after the elections today could run out of patience with the EU’s infighting.