ua en ru

Proposal of €50 billion for Ukraine faces no objections - EU Commissioner

Proposal of €50 billion for Ukraine faces no objections - EU Commissioner Photo: EU countries agree to allocate 50 billion euros in aid to Ukraine (Getty Images)

The European Commission's proposal to provide Ukraine with €50 billion (approximately $54.6 billion) in loans and grants over the next four years is not contested by any EU member state, reports Sky News.

This was said by European Budget Commissioner Johannes Hahn.

"The central piece is the support for Ukraine. This is not contested by anybody, even in magnitude," said the European Commissioner during a briefing.

€50 Billion assistance

In June, the European Commission proposed creating a special mechanism for Ukraine, through which grants and loans totaling up to €50 billion would be provided until 2027. This proposed mechanism would replace the current EU support to Ukraine through the Macro-Financial Assistance Program, which is set to expire at the end of 2023.

Hungary is the only country that regularly attempts to block European Union assistance to Ukraine, as well as, for example, sanctions against Russia.

In November, in a letter addressed to the President of the European Council, Charles Michel, Hungarian Prime Minister Viktor Orban threatened to block all EU assistance to Ukraine.

To overcome Budapest's veto, the European Commission, on the following day, November 23, approved advance payments to Hungary totaling €900 million, which had been previously "frozen."