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The European Union is preparing an alternative plan to provide Ukraine with EUR 20 billion (22.09 billion USD) in financial support to circumvent the veto<\/a> of Hungarian Prime Minister Viktor Orb\u00e1n, reported the Financial Times<\/a>.<\/p>\n The proposed mechanism could be used if Orb\u00e1n’s veto cannot be overcome at the planned summit on Feb. 1., said the report.<\/p>\n Read also:<\/b> Orban acknowledges EU can provide aid to Ukraine without Hungary\u2019s involvement <\/a><\/p>\n This plan involves guarantees from EU member states to the European budget, enabling the European Commission (EC) to raise up to 20 billion euros on capital markets to support Ukraine.<\/p>\n The specific timeline and final amount will be determined based on Ukraine’s needs.<\/p>\n The approach is like the EC\u2019s COVID-19 response, when 100 billion EUR was provided to EU countries in 2020.<\/p>\n Read also:<\/b> Fifth column or useful idiot? Hungary\u2019s Orban blocks \u20ac50 billion in EU aid for Ukraine <\/a><\/p>\n This option does not require guarantees from all 27 EU member states, allowing the inclusion of countries with the highest credit ratings as principal participants.<\/p>\n As unanimous support is not required, the approach would allow the EU to bypass Hungary\u2019s veto.<\/p>\n Some countries, including Germany and the Netherlands, may require parliamentary approval to provide national guarantees.<\/p>\n The process is expected to be ready to provide assistance to Ukraine by March.<\/p>\n We\u2019re bringing the voice of Ukraine to the world. Support<\/a> us with a one-time donation, or become a Patron<\/a>! <\/i> <\/b><\/p>\n Read the original article on The New Voice of Ukraine<\/a><\/p>\n<\/div>\n