EU emerges details on unlocking €50 billion for Ukraine
Photo: The EU explained how it managed to unblock 50 billion euros for Ukraine (Getty Images)
European Union leaders had to agree on two compromises to unblock the allocation of 50 billion euros for Ukraine under the Ukraine Facility program, according to The Guardian.
Based on the Commission's annual report on the implementation of the Ukraine Facility, the European Council will hold annual debates on the implementation of the program to provide recommendations.
"If needed, in two years the European Council will invite the Commission to make a proposal for review in the context of the new MFF," the agency notes.
In particular, it was decided to withdraw the conclusions of December 2020 on the rule of law conditionality mechanism.
According to the spokesperson for European Council President Charles Michel, Prime Minister Viktor Orban finally succumbed to pressure after a series of meetings yesterday, January 31, and today, February 1, with the prime ministers of Italy, France, and Germany. During the talks, they agreed to the above-mentioned compromises and Michel "quickly consulted with other EU leaders".
EU summit
One of the main topics of today's summit in Brussels was an attempt to reach an agreement on a €50 billion financial aid package for Ukraine for four years. The package was blocked by Hungary during the last meeting on December 1.
Nevertheless, EU leaders have already approved the allocation of €50 billion for Ukraine under the Ukraine Facility program.
