Espreso. Global

All 27 EU countries agree to support €50bn in aid to Ukraine - PM Shmyhal

26 January, 2024 Friday
18:50

Ukraine's Prime Minister Denys Shmyhal says that all 27 EU member states have preliminarily agreed to support a four-year EUR 50 billion Ukraine Facility program to help Ukraine

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He said this at a government meeting.

Shmyhal added that Ukraine expects the EU to approve the program on February 1.

"On February 1, we expect the EU to approve a new four-year, €50 billion support program for Ukraine, the Ukraine Facility. We can preliminarily say that all 27 EU members have agreed to support this program," Shmyhal said.

The government also expects that this year the EU will be able to provide financial assistance at about the same level as in 2023. In particular, the Prime Minister noted that in order to cover the Ukrainian budget deficit, it is important to attract about EUR 18 billion from the European Union.

At the same time, in 2024, the US President Joe Biden's administration plans to provide Ukraine with budget support in the amount of USD 11.8 billion.

"We rely on a positive decision by the US Congress on this issue in the near future," Shmyhal said.

  • On December 15, 2023, Viktor Orban vetoed the EU's decision on the EUR 50 billion budget assistance program for Ukraine.
  • On December 18, it became known that a special summit of the European Commission to discuss the allocation of EUR 50 billion for Ukraine for 4 years would take place on February 1, 2024.
  • On January 9, it was reported that Hungary might lift its veto on the EUR 50 billion EU aid package to Ukraine, provided that the funding is reviewed annually.
  • On January 10, despite Hungary's opposition, Brussels voted to start negotiations with the European Parliament on providing Ukraine with EUR 50 billion in macro-financial assistance for the next four years.
  • On January 16, Orban called for separating financial aid to Ukraine from the EU budget.
  • On January 17, European Commission President Ursula von der Leyen expressed confidence that all EU member states would agree to provide EUR 50 billion in aid to Ukraine for 2024-2027.
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