Ukrainian Ministry of Foreign Affairs on €50 billion EU aid for Ukraine: Fundamental decision reached

The Ministry of Foreign Affairs of Ukraine believes that a «fundamental decision» was reached at the EU summit regarding the creation of a Ukrainian fund amounting to 50 billion euros for the years 2024-2027. This statement was made by the ministry. The MFA stated that the fundamental decision on 50 billion euros is a «clear signal that the financial support for Ukraine from the European Union will continue.»

«We expect the completion of all necessary legal procedures in January 2024, allowing us to receive the corresponding funding as soon as possible,» the ministry noted.

Minister of Foreign Affairs Dmytro Kuleba

The MFA clarified that the 50 billion euros allocated by the EU to Ukraine will be directed, among other things, to support macroeconomic stability, the recovery and modernization of the state, and the acceleration of integration into the EU.

The MFA also welcomed the agreement on the 12th package of EU sanctions at the summit and the commitment of the EU and its member states to continue meeting Ukraine's urgent military and defense needs, particularly through the European Peace Fund (EPF) and the Mission of Military Assistance, as well as through bilateral assistance from member states.

«We call on the EU to promptly approve the new eighth tranche of aid within the European Peace Fund. We support the proposal of the European Council to expedite the reform of the EPF and increase its funding for the optimal satisfaction of Ukraine's military needs,» the statement said.

It's worth noting that after the conclusion of the EU leaders' negotiations, President of the European Council Charles Michel stated that Hungarian Prime Minister Viktor Orban prevented the adoption of the EU budget decision, which would include a medium-term aid program for Ukraine of 50 billion euros.

President of the European Council Charles Michel

In light of this, leaders agreed to hold an extraordinary summit in January dedicated to this issue. Michel urged Ukraine to see a positive signal in the vote despite Hungary's position, as, according to him, the other 26 countries are ready to support the decision.

EU leaders believe that they will still be able to reach an agreement on the 50 billion euros financial support program for Ukraine, including Hungary's voice, and this could happen in January 2024.

The project «Ukraine: realities» is implemented by the News agency «Konkurent» together with the Civic Movement «SVIDOMI» in English for readers from other countries to tell the stories of people who survived the horrors of the Russian occupation.

Проєкт «Ukraine: realities» реалізовується Інформаційним агентством «Конкурент» спільно з Громадянським Рухом «СВІДОМІ» на англійській мові для читачів з інших країн аби розповісти історії людей, які пережили жахи російської окупації.