European Parliament committees back €50 billion macro-financial aid for Ukraine

Thursday, 22 February 2024

The European Parliament committees have supported the decision to create a multi-year financial assistance program for Ukraine amounting to €50 billion. 

"We just approved the Ukraine Facility, a €50 Billion financial aid for the years to come. On the next week's plenary in Strasbourg, the whole Parliament will once again stand together in solidarity with Ukraine," Viola von Cramon, Member of the European Parliament, wrote.


The message also appeared on the European Parliament's website. As noted, the Budget Committee, the Committee on Foreign Affairs, and the Committee on Industry, Research, and Energy have approved the decision to review the long-term EU budget, including the Ukraine Facility.

On 1 February, EU leaders overcame Hungary's long-standing opposition and reached an agreement on a €50 billion macro-financial assistance programme for Ukraine. The programme will last for four years.

Ursula von der Leyen, President of the European Commission, said that the EU expects to provide the first tranche of funds to Ukraine in March.

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