On Wednesday 16 November, the Ambassadors of the Member States to the European Union (Coreper) approved the proposal to provide stable macrofinancial assistance to Ukraine for the entirety of 2023 (see EUROPE 13060/4).
The urgency procedure continues with a view to formal adoption of this new support – probably at the Ecofin Council on Tuesday 6 December – which will involve €18 billion in very long-term loans to the Ukrainian authorities.
On Monday, several MEPs voiced their dissatisfaction with this procedure, which they said would not respect their role as the EU’s budgetary authority (see EUROPE 13062/3).
According to our information, on Wednesday, Coreper did not change the text of the European Commission’s initial proposal, which calls for changes to the 2021–2027 Multiannual Financial Framework and the financial regulation in order to make use the margins under the EU budget ceilings to borrow the necessary amounts.
Hostile to a new European loan, Hungary has reportedly reiterated its position on the fund without blocking the procedure. (Original version in French by Mathieu Bion)