EU ambassadors agree on €50 billion aid package for Ukraine - FT
Photo: EU ambassadors agree on €50 billion in aid to Ukraine (Getty Images)
Ambassadors of the 27 EU countries met on February 14 to agree on the legal texts necessary to launch a €50 billion EU package to support Ukraine, according the Financial Times.
The text of the document must be approved by the European Parliament, and funds will begin to flow early next month.
Program for Ukraine
On February 1, during the summit, the leaders of the European Union approved the allocation of 50 billion euros for Ukraine under the Ukraine Facility program for 2024-2027.
On February 5, the EU Council and the European Parliament reached a preliminary agreement on the creation of a new instrument to support the recovery, reconstruction, and modernization of Ukraine, the Ukraine Facility.
The document must be approved by the European Parliament at its plenary session scheduled for February 26-29, 2024.
Ukraine expects to receive the first payment of €4.5 billion in March. President of Ukraine Volodymyr Zelenskyy said that Ukraine wants to receive €18 billion in the first two years of the program.
