European Parliament approves EUR 50 billion of macro-financial support for Ukraine
Brussels, Belgium (Svidomi) — The European Parliament has approved in a plenary session the allocation of EUR 50 billion in support to Ukraine over the next four years, the European Parliament's press service reports.
536 deputies voted in favour, 40 deputies were against, and 39 abstained.
On February 1, EU leaders overrode Hungary's veto and reached an agreement on the allocation of aid to Ukraine. European Commission President Ursula von der Leyen said that the first funds were expected to be disbursed to Ukraine in March.
"A substantial 33% of the resources are designated as grants, with at least 20% dedicated to the recovery, reconstruction, and modernisation of Ukraine's sub-national authorities such as regions, cities and local communities," the European Parliament said in a statement.
Johan Van Overtveldt, Chair of the Committee on Budgets, said that it was important for the EU to support Ukraine in its fight against Russian aggression, and "the Ukrainian fund fits into that vision".
The facility allows us to support Ukraine until 2027, by giving us maximum flexibility with regard to the annual distribution of loans, grants and guarantees,
added David McAllister, MEP from the Netherlands.
It will be recalled that in June 2023, the European Commission proposed to create a special "Ukraine Fund" worth €50 billion to help Ukraine in 2024-2027.
Until February 2024, the aid was blocked by Hungarian Prime Minister Viktor Orbán.
