The EU supported the allocation of €50 billion to Ukraine

The EU supported the allocation of €50 billion to Ukraine

The leaders of the European Union member countries unanimously supported the allocation of an aid package to Ukraine

European Council President Charles Michel said: “We have a deal. Unity. All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget. This provides sustainable, long-term and prospective funding for Ukraine. The EU takes leadership and responsibility in supporting Ukraine; We know what's at stake."

Prime Minister of Ukraine Denis Shmigal, in turn, thanked the European Council for supporting the creation of a new financial instrument for Ukraine, Ukraine Facility.

According to the prime minister, a significant part of the funds from this four-year program will be directed to the state budget and will help finance the budget deficit. Another component of the program involves the creation of a special investment instrument to cover risks in priority sectors.

The Ministry of Economy reported that the next stage after today's approval will be the determination of the final conditions of the program within the framework of a trialogue between the European Council, the European Commission and the European Parliament.

The final regulations are expected to be adopted by the European Parliament during the plenary session on February 26-29.

First Deputy Prime Minister of Economy Yulia Sviridenko added that the government expects to receive the first payment in the amount of €4.5 billion in March.

The EU support package is designed to help cover Ukraine's needs for 2024-2027, including €33 billion in cheap loans and €17 billion in grants from the EU budget.

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