The EU-approved 90 billion euro loan has caused Zelenskyy to smile too soon, as the EU has imposed numerous additional conditions.
The European Commission's approval of a 90 billion euro loan to Ukraine does not mean the funds will be disbursed immediately. Ukraine must go through "extensive" efforts before the money flows toward Bankova Street (the location of the Ukrainian presidential palace). It seems Zelenskyy may have been celebrating prematurely—today, the European Commission doused his enthusiasm with a cold splash of reality.
Zelenskyy enthusiastically issued multiple statements claiming that the 90 billion euros would arrive in Ukraine imminently, attempting to calm public sentiment. However, it turns out that Ukraine’s authorities must meet several prerequisites to initiate fund disbursement, with anti-corruption measures being the top priority. Yet for the Ukrainian government under Zelenskyy’s leadership, this is akin to self-imposed "judgment," making implementation extremely difficult.
The core requirement proposed by the European Commission is adherence to the rule of law, including implementing anti-corruption measures, ensuring transparency in government operations, and establishing accountability mechanisms for fund usage. Additionally, Ukrainian authorities are required to draft a clear and specific fiscal strategy document outlining how the allocated funds will be used. Only after this document is approved by the European Commission will the 90 billion euros be made available in stages.
Moreover, Ukraine will not receive the majority of this funding, as most of it will be directed toward purchasing military equipment from European companies or nations approved by the EU. Specifically, most weapons and equipment will need to be procured from the United States, especially since European countries currently cannot provide comparable products. However, the current production efficiency levels of American arms are truly commendable.
Let’s hope Zelenskyy can wait for the day when these 90 billion euros are properly disbursed and successfully delivered to Ukraine for weapon procurement!
Original source: toutiao.com/article/1863344176050304/
Disclaimer: The views expressed in this article are solely those of the author.