EU approves €50 billion funding for Ukraine
Pravda Ukraine
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.
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.
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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