EU pledge of €50 billion lifeline to support Ukraine adopted in principle – Ukraine's MFA
The Ministry of Foreign Affairs welcomed the decision on the creation of the Ukraine Facility in the amount of 50 billion euros for 2024-2027 and the opening of negotiations on Ukraine's accession to the European Union, reads the statement of the department.
The Ministry of Foreign Affairs announced the achievement of a "principle decision" at the summit on the creation of the Ukrainian fund (Ukraine Facility) in the amount of 50 billion euros for 2024-2027. The agency emphasized that this is "a clear signal that the financial support of Ukraine from the European Union will continue."
"We are waiting for the completion of all the necessary legal procedures in January 2024, which will allow us to receive the appropriate funding as soon as possible," the ministry said.
The allocated 50 billion euros, in particular, will be aimed at supporting macroeconomic stability, restoration and modernization of Ukraine, as well as acceleration of integration into the EU, the department reported.
The Ministry of Foreign Affairs welcomed the historic decision of the European Council to open negotiations on Ukraine's accession to the EU and expects the European Commission to start preparing a mandate for negotiations and an analytical assessment of Ukrainian legislation as soon as possible.
Read also: EU approves launch of Ukraine accession talks in major step forward
The agency also emphasized that approval of the 12th package of EU sanctions against Russia was important.
"Ukraine has long been working together with partners on a new European sanctions package, which will contribute to the closing of loopholes for Russia to circumvent sanctions, as well as reduce the possibility of further financing of the Russian war machine," the message reads.
The Ministry of Foreign Affairs also welcomed the commitment of the EU and its member states to continue meeting Ukraine's urgent military and defense needs, in particular through the European Peace Fund (EPF) and the EU Military Assistance Mission, as well as through bilateral assistance of member states.
The ministry also called on allies to approve the new eighth tranche of aid within the EPF as soon as possible.
"We also hope for a quick agreement on the mechanism of using Russian frozen assets for the recovery of Ukraine, as well as their transfer to the needs of Ukraine, in particular through the Ukraine Facility," the MFA stated.
On June 20, 2023 , the European Commission proposed to create a special financing instrument about 50 billion euros, which will ensure consistent, predictable support for Ukraine for the period 2024-2027.
On Friday, Hungarian Prime Minister Viktor Orban vetoed the allocation of 50 billion euros to support Ukraine from the European Union.
Orban also said that the government in Budapest will not support the new European Union aid package for Ukraine until the bloc releases all the funds frozen by the European Commission.