The European Parliament will finally approve the transfer of €50 billion in aid to Ukraine at the end of February

Author:
Oleksandra Amru
Date:

The European Parliament must finally adopt the regulations for the transfer of €50 billion macro-financial aid to Ukraine at the plenary session from February 26 to 29.

This was reported by the President of the European Parliament Roberta Metsola at a press conference in Brussels.

Metsola noted that the European Parliament has yet to study the details of the agreement reached before voting.

According to her, from the beginning, the European Parliament wanted the aid agreement for Ukraine to be concluded within the framework of the EU budget, and now it has happened.

"Ukraine is our priority, and that is why we need the consent of all 27 EU member states. This will provide the reliability, legitimacy and predictability expected of us, because the security of Ukraine is the security of Europe," Metsola noted.

According to her, the EU has undertaken to support Ukraine as long as necessary, as it is important "not only from a moral, but also from a strategic point of view."

"We knew there would come a time when our world would be tested, and that moment has come now," Metsola added.

  • Today, February 1, the leaders of the EU member states unanimously agreed to provide financial support to Ukraine in the amount of €50 billion. €17 billion is direct financial aid to Ukraine, and the rest are loans that Kyiv will receive over the next four years. Ukraine expects to receive the first payment of €4.5 billion in March.
  • On June 20, 2023, the European Commission proposed to create the Ukraine Facility for the years 2024-2027 for €50 billion in grants and loans. In October, the European Parliament amended the EU budget to finance this fund.
  • The aid fund for Ukraine was created by the decision of the summit of EU leaders in December 2023, but they could not approve the allocation of €50 billion, as Hungary blocked the decision.