Ukraine's Cabinet of Ministers reveals how €50 billion provided by EU will be used
Most of the funds that Ukraine will receive from the European Union will be used to support the state budget of Ukraine.
Source: Denys Shmyhal, Prime Minister of Ukraine, on Telegram
Details: Shmyhal also revealed how the funds will be distributed:
- €39 billion euros will be used to support the state budget of Ukraine;
- €8 billion euros is provided in the form of a special investment instrument.
Quote: "The Ukraine Facility programme is not only about money, but also about the transformation of our country. This is a plan to introduce European rules and regulations that bring us closer to EU membership," Shmyhal explained.
In addition, European leaders confirmed their intention to continue military support for Ukraine.
"Also, in March we expect to create a separate instrument for Ukraine within the European Peace Fund. We are talking about €20 billion of military support for the next four years," the prime minister added.
Background:
On 1 February, the leaders of the EU member states agreed to allocate €50 billion to Ukraine as part of the Ukraine Facility project.
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