The EU's 27 member states are expected to give final approval on Thursday, the Reuters news agency reported, citing a spokesperson for the Cypriot presidency.
The loan package, agreed last year, is intended to support Ukraine’s finances through 2026 and 2027 but had been held up by Hungary's opposition.
Hungarian Prime Minister Viktor Orban had accused Ukraine of disrupting the transit of Russian oil through a pipeline supplying his country.
However, Orban lost Hungary’s parliamentary election on April 12, and the leader of the winning party, Peter Magyar, has said he will no longer block EU funding for Kyiv, though he is not expected to take office until next month.
The dispute also delayed the latest sanctions package, which the EU had initially aimed to adopt to mark the fourth anniversary of Russia’s full-scale invasion of Ukraine on February 24, 2022, Reuters reported.
Ukraine said on Wednesday it had resumed pumping Russian oil through the Druzhba pipeline into Hungary and Slovakia, putting an end to the months-long deadlock.
Both Hungary and Slovakia are heavily reliant on Russian energy supplies.
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Source: Reuters, IAR, PAP