The decision of the European Union on 50 billion euros for Ukraine has been accepted in principle.
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The completion of all necessary legal procedures will take place in January 2024, which will allow the appropriate funding to be received as quickly as possible. This money will be used, in particular, to support macroeconomic stability, the restoration and modernization of Ukraine, as well as accelerating integration into the EU. This was reported by the press service of the Ministry of Foreign Affairs of Ukraine.
The Ministry of Foreign Affairs of Ukraine welcomes the achievements at the summit of the fundamental decision on the creation of the Ukrainian Fund (Ukraine Facility) in the amount of 50 billion euros for 2024-2027. This is a clear signal that financial support for Ukraine from the European Union will continue, the department noted.
The Foreign Ministry also called for the approval of the new eighth tranche of assistance under the European Peace Fund as soon as possible. Ukrainian diplomats hope that the allies will quickly agree on all mechanisms for using Russian frozen assets and direct them to the needs of Ukraine.
Bloomberg reported that due to the veto of Hungarian Prime Minister Viktor Orban, these 50 billion euros will not be included in the EU budget, but Brussels has a backup plan. It is expected that 26 member states will allocate 1.5 billion euros to Ukraine from 2024.
Let us recall that at the EU summit in Brussels, Hungarian Prime Minister Viktor Orban vetoed the decision on a long-term program of budget assistance to Ukraine from the European Union in the amount of 50 billion euros. However, the President of the European Council, Charles Michel, expressed confidence that Ukraine will still receive the money.
Source: Bloomberg
Source: Racurs
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