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EU Parliament approves allocation of €50 billion in aid to Ukraine

EU Parliament approves allocation of €50 billion in aid to Ukraine Photo: President of the European Parliament Roberta Metsola (Getty Images)
Author: Liliana Oleniak

The European Parliament has approved the creation of an aid fund for Ukraine and the transfer of 50 billion euros over four years, according to Radio Liberty correspondent Rikard Jozwiak.

"The European Parliament has now overwhelmingly (536 for, 40 against, 39 abstentions) approved the 50 billion euro aid for Ukraine," he says.

Updated. The President of the European Parliament, Roberta Metsola, welcomed the positive vote on the financial support program for Ukraine.

"When it matters the most, Europe stands up to be counted," she wrote on X, noting that the European Parliament also approved a review of the long-term budget for EU states and new investments in critical technologies.

Ukraine Facility program for Ukraine

On February 1, at a special summit in Brussels, EU leaders approved the allocation of €50 billion to 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 Ukraine's recovery, reconstruction, and modernization, the Ukraine Facility.

The document is to be approved by the European Parliament at its plenary session scheduled for February 26-29, 2024.

President of Ukraine Volodymyr Zelenskyy said that Ukraine wants to receive €18 billion in the first two years of the program.

Recently, Ukraine and the European Commission have coordinated the next steps within the Ukraine Facility initiative.