People cooking meal in Mariupol, Ukraine, on April 12, 2022. Photo: Xinhua/VNA

Hungary said Wednesday that it will not accept the contribution package but will provide 187 million euros in financial aid to Ukraine in exchange for the EU disbursing billions of euros to Budapest, including 5.8 billion euros from the post-COVID-19 recovery fund.

Ukraine is seeking billions in emergency financial aid next year as it struggles to survive a recession caused by its conflict with Russia. 

The IMF has estimated that Kyiv will need between 3 to 4 billion euros per month next year.