EU Prepares £17.4bn Workaround Fund for Ukraine Amid Hungary's Opposition

The new plan allows the European Commission to borrow money for Ukraine on international markets, providing crucial support for Ukraine's economy.

The European Union has prepared a £17.4 billion workaround fund to overcome Hungary’s opposition to further support for Ukraine.
The new plan would allow the European Commission to borrow money for Ukraine on international markets.
Support from Brussels is seen as crucial for propping up Ukraine’s economy while US President Joe Biden’s own aid package remains blocked.
The workaround would only provide low-cost loans to Ukraine, and not grants that need not be repaid.
The £43.5 billion package, however, originally worked up in June, remains the priority and there is still hope in Brussels that Mr Orbán’s opposition can be overcome.