Viktor Orban’s election defeat in Hungary has opened the door to a £78bn loan from the European Union to Ukraine.
The EU's foreign policy chief, Kaja Kallas, expressed confidence on Tuesday that member states would reach "positive decisions" on the Ukraine package when ambassadors convene in Luxembourg on Wednesday.
Ms Kallas told journalists as EU foreign ministers assembled for discussions: "Ukraine really needs this loan and it's also a sign that Russia cannot outlast Ukraine. This is extremely important at this moment."
The Cypriot presidency of the Council of the EU has placed the Ukrainian funding on Wednesday's agenda for the bloc's 27 ambassadors, signalling growing optimism that the long-delayed package will finally receive approval.
Should the loan gain approval this week, Kyiv could receive the funds as early as May, following technical verification by the European Commission.
Hungary's caretaker prime minister, Viktor Orbán, announced on Sunday that Budapest would withdraw its opposition to the loan once oil deliveries through the Druzhba pipeline are restored.
Having received assurances from Kyiv via Brussels that the damaged infrastructure would be repaired, Mr Orbán said: "Once oil deliveries are restored, we will no longer stand in the way of approving the loan."
The pipeline suffered damage during a Russian strike in late January, prompting Mr Orbán to block the funding package in February after initially agreeing to it in December.
Viktor Orbán announced that Budapest would withdraw its opposition to the loan once oil deliveries through the Druzhba pipeline are restored
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He accused Ukrainian President Volodymyr Zelenskyy of deliberately delaying repairs as retaliation for Hungary's warm relations with Moscow.
President Zelenskyy indicated last week that Druzhba supplies could resume by the end of April, though diplomats suggested flows might restart before Wednesday's crucial meeting.
Péter Magyar's decisive electoral triumph on April 12 brought an end to Mr Orbán's 16-year premiership, with his Tisza party securing a two-thirds parliamentary majority that will enable swift legislative action without opposition support.
The incoming prime minister has pledged to restore Hungary's standing within the European fold and has been critical of his predecessor's deference to Russian influence.
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Péter Magyar's decisive electoral triumph on April 12 brought an end to Mr Orbán's 16-year premiership
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Mr Magyar has committed to implementing measures to ensure judicial independence, combat corruption, and promote academic and media freedoms.
French President Emmanuel Macron expressed optimism on Monday following Mr Orbán's defeat, saying, "We can be reasonably optimistic about the sound progress and implementation" of the EU loan.
Brussels has already dispatched officials to Budapest for preliminary discussions with Mr Magyar's team ahead of his formal assumption of office next month.
The funding represents a lifeline for Ukraine's war-battered economy as the conflict with Russia enters its 5th year.
According to reports from last month, Kyiv possesses sufficient resources to cover its needs only until June
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According to reports from last month, Kyiv possesses sufficient resources to cover its needs only until June.
Irish foreign minister Helen McEntee underscored the urgency during her remarks on Tuesday.
She said: "I was in Ukraine with a number of colleagues in recent weeks and what's very clear is that we are at that breaking point where that loan is absolutely essential."
Ms McEntee emphasised the importance of advancing both the £78billion loan and a 20th package of sanctions to maintain maximum pressure on Moscow.
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