Ukraine Expects to Receive the First Tranche of a New Loan in Late May or Early June...

Ukraine expects to receive the first tranche of a new European Union loan in late May or early June. The money will go toward weapons production and support for residents

Volodymyr Zelensky said Ukraine is trying to speed up the receipt of funds under the 90-billion-euro loan agreed by EU countries, RBC-Ukraine reports.

The first tranche, which we are counting on, we will try to bring forward as quickly as possible so that we receive the money by the end of May, the beginning of June.

According to the Ukrainian president, these funds will be directed toward support for the army, the production of drones and electronic warfare systems, social assistance for citizens, and, if necessary, purchases of scarce weapons from partners.

The EU had planned to allocate the 90-billion-euro loan to Ukraine several months ago. However, Viktor Orban, who at that moment held the post of Hungary’s prime minister, refused to approve the loan because oil transit to Hungary and Slovakia through Ukraine had stopped. On April 12, Orban’s party lost the election, and Peter Magyar became Hungary’s new head of government.

On the morning of April 22, Ukraine announced the restoration of oil transit through the Druzhba pipeline. That same day, the permanent representatives of all EU countries approved the allocation of the loan.

@meduzalive