EU decision on €50 billion for Ukraine is reached in principle

European Pravda, Ukrainska Pravda — Friday, 15 December 2023, 16:01

UKRAINIAN FOREIGN MINISTER DMYTRO KULEBA. PHOTO: GETTY IMAGES

Ukraine’s Ministry of Foreign Affairs believes that the EU summit did reach a "decision in principle" to establish a €50 billion Ukrainian Facility for 2024-2027.

Source: a statement by the Ministry, as reported by European Pravda

Details: The Foreign Ministry said that the decision in principle on the €50 billion is a "clear signal that the EU's financial support for Ukraine will continue".

"We expect all the necessary legal procedures to be completed in January 2024, which will allow us to receive the appropriate funding as soon as possible," the ministry said.

The Foreign Ministry clarified that the €50 billion allocated by the EU for Ukraine would be used to maintain macroeconomic stability, rebuild and modernise Ukraine, and accelerate its integration into the EU.

The Foreign Ministry also welcomed the summit’s approval of the 12th EU sanctions package and the commitment of the European Union and its member states to continue to meet Ukraine's urgent military and defence needs, particularly through the European Peace Facility (EPF) and the Military Assistance Mission, as well as through bilateral assistance from member states.

"We call on the EU to approve the new eighth tranche of assistance under the European Peace Facility as soon as possible. We support the European Council's proposal to accelerate work on reforming the EPF and increasing its funding to better meet Ukraine's military needs," the statement said.

Background:

At the end of the EU leaders’ talks, which went on late into the night, European Council President Charles Michel said that Hungarian Prime Minister Viktor Orbán had not allowed the EU to adopt a budget decision that would have included a €50 billion medium-term assistance programme for Ukraine.
The leaders agreed to hold an extraordinary summit in January to discuss the issue.
Michel called on Ukraine to see a positive signal in the vote despite Hungary's position, as the other 26 countries, he said, are ready to support the decision.
EU leaders believe they will still be able to agree on the €50 billion financial support programme for Ukraine, including Hungary's vote, and this could happen in January 2024.

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