Camilla Jessen
The European Parliament has approved a huge financial aid package worth $54 billion for Ukraine. This support, spread over several years, aims to assist Ukraine in the near future.
“We just approved the Ukraine Facility, a €50 billion financial aid for the years to come. On the next week’s plenary in Strasbourg, the whole Parliament will once again stand together in solidarity with Ukraine,” according to Viola von Cramon, Member of the European Parliament.
This update was also posted on the European Parliament’s website.
It was mentioned that the Budget Committee, the Committee on Foreign Affairs, and the Committee on Industry, Research, and Energy have all agreed to this plan, which will be part of the long-term EU budget adjustments, including the support for Ukraine.
After overcoming opposition from Hungary, EU leaders agreed on February 1 to a €50 billion macro-financial assistance program for Ukraine.
“This locks in steadfast, long-term, predictable funding for Ukraine. The EU is taking leadership and responsibility in support for Ukraine; we know what is at stake,” Charles Michel, President of the European Council, stated.
This program is set to run for four years.
Ursula von der Leyen, the President of the European Commission, announced that the EU plans to send the first part of this financial aid to Ukraine in March.