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EU leaders agreed on 1 February to allocate macro-financial assistance to Ukraine totalling €50 billion.
Source: Charles Michel, President of the European Council, as reported by European Pravda
He noted that all 27 EU member states adopted the decision.
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Quote: “This locks in steadfast, long-term, predictable funding for Ukraine. The EU is taking leadership and responsibility in support for Ukraine; we know what is at stake,” Michel said.
Ukrainian President Volodymyr Zelenskyy thanked Charles Michel and the leaders of the EU member states for their creation of a fund for Ukraine.
“This once again proves strong EU unity,” Volodymyr Zelenskyy added.
He said that continued EU financial support for Ukraine will strengthen Ukraine’s long-term domestic economic and financial stability, which is just as important as foreign military assistance and sanctions pressure on Russia.
Grateful to @CharlesMichel and EU leaders for establishing the €50 billion Ukraine Facility for 2024-2027.
It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity.
Continued EU financial support for Ukraine will strengthen…
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) February 1, 2024
Media reports indicate that EU leaders are considering incorporating the idea of annual reviews of the planned €50 billion aid package for Ukraine into the EU summit resolution to secure Hungary’s support.
Hungarian Prime Minister Viktor Orbán proposed a compromise deal to unblock the €50 billion in EU funding for Ukraine.
He said the compromise involves his agreement to allocate funds to Ukraine under the following condition: “[A guarantee] that the decision to continue sending money will be reviewed every year.” In practice, this will essentially give Hungary another opportunity to hold up aid each year.
Background: Before the summit, EU leaders expressed confidence that a compromise on unlocking the €50 billion in funding for Ukraine would be reached among the 27 EU countries.
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