The European Union made several compromises to get Hungary to agree to lift its veto on the €50 billion aid package for Ukraine.
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Politico writes about this on February 1.
The European Commission will publish an annual report on the use of aid, and the European Council will hold annual debates on the implementation of the program. Also, if necessary, after two years the European Commission can review expenses, but after voting. Budapest will not have a veto.
All this was agreed on the morning of the EU Council summit after a meeting of a small group of EU leaders. In Brussels, the concessions are considered insignificant, but Viktor Orban is likely to declare victory to save face.
On February 1 in Brussels, all 27 leaders of EU member states agreed on a four-year aid package for Ukraine worth €50 billion, said the head of the European Council, Charles Michel. This means that the package was also agreed upon by Hungary.
This provides permanent, long-term, prospective funding for Ukraine. The EU takes leadership and responsibility to support Ukraine. We know what’s at stake,” Michel wrote.
The Ministry of Economy clarifies that after the EU countries agree on 50 billion euros for Ukraine, the terms of the program will be determined between the European Council, the European Commission and the European Parliament. The final regulations are due to be adopted by the European Parliament at its plenary session at the end of February.
Ukraine expects to receive the first payment of 4.5 billion euros in March.
Source: Racurs
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