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 of Hungarian Prime Minister Viktor Orbán, reported the Financial Times.

The proposed mechanism could be used if Orbán's veto cannot be overcome at the planned summit on Feb. 1., said the report.

. . .

The approach is like the EC’s COVID-19 response, when 100 billion EUR was provided to EU countries in 2020.

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.

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