EU Decision on €50 Billion for Ukraine Is Conceptually Made

Friday, 15 December 2023

The Ministry of Foreign Affairs of Ukraine believes that the EU summit did reach a "fundamental decision" to create a €50 billion Ukrainian Facility for 2024-2027.

The Ministry of Foreign Affairs stated that the fundamental decision on €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 Ministry of Foreign Affairs clarified that the €50 billion allocated by the EU for Ukraine would be used, in particular, to maintain macroeconomic stability, restore and modernise Ukraine and accelerate integration into the EU.


The Ministry of Foreign Affairs also welcomed the approval of the 12th EU sanctions package at the summit and the commitment of the European Union and its member states to continue to meet Ukraine's urgent military and defence needs, in particular 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 best meet Ukraine's military needs," the statement said.

At the end of the talks, which lasted until late at 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. 

In this regard, 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 that they will still be able to agree on a €50 billion financial support programme for Ukraine, including Hungary's vote, and this could happen in January 2024.

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