Bulgarian Prime Minister Rumen Radev said that Bulgaria will not take part in granting Ukraine a €70 billion loan.
The European Union (EU) decision on the loan and Bulgaria’s position
Radev recalled that last year at European level a decision was taken to grant Ukraine a €90 billion loan, for which Europe acts as guarantor. He emphasised that Bulgaria cannot join the additional €70 billion.
“How does this seem to you in the light of everything that is happening in Europe? Bulgaria cannot be part of this €70 billion,” Rumen Radev said.
Reasons for the refusal cited by the prime minister
Radev listed several factors that, in his view, cause discontent among citizens of European countries and affect decisions about financing. He drew attention to migration, integration and economic consequences.
- uncontrolled migration;
- problems with the integration of migrants;
- the European Green Deal;
- deindustrialisation;
- loss of jobs.
The prime minister also said that the war in Ukraine “exhausts European economies, increases social tension and contributes to political instability”, and added that, as he put it, “the welfare of Europeans is being siphoned off into this war”, instead of directing resources at solving internal problems.
Positions of other countries and steps by the EU
The article notes that Slovakia and Hungary also refused to join the allocation of the additional €70 billion. This means that several member states do not support expanding financing on that scale.
At the same time, the European Commission is working on possible ways to cover Ukraine’s financing shortfall and is counting on support from international partners, preparing a financial strategy for 2027.
