European Parliament approves EUR 50 billion ‘long-term funding for Ukraine’
The European Parliament has approved "long-term funding for Ukraine" in the amount of 50 billion euros ($54 billion), the Parliament’s press service reported on X on Feb. 27.
The decision received 536 votes in favor, with 40 European deputies against and 39 abstaining.
Approval from the EU Council is now needed for the decision to take effect.
According to the newspaper Il Giornale, the Italian government played a leading role in reaching an agreement for the package, and Prime Minister Giorgia Meloni was the "main actor" in the negotiations that led to its adoption.
On Feb. 22, the European Parliament committees supported the decision to create a multi-year financial assistance program for Ukraine. Ursula von der Leyen, President of the European Commission, said that the EU expects to provide the first tranche of funds, amounting to €4.5 billion ($4.88 billion), to Kyiv in March.
This was confirmed by Ukrainian Prime Minister Denys Shmyhal.
The €50 billion Ukraine Facility program is designed to lay the groundwork for the rapid recovery and development of the Ukrainian economy. The package is expected to cover Ukraine's needs for 2024-2027.
The military war may be swinging in our favor, but the information war continues.
Just as an army needs soldiers, so does a free society need its journalists to ensure that people have access to honest, trustworthy voices to understand the world around them.
For the past five years, The New Voice of Ukraine has been working tirelessly to push back against Russian narratives and defend democracy. But we cannot do it alone.
Please consider supporting us on Patreon for just $5 a month – your donation does directly to supporting journalists and ensuring that this front of the infowar says solid and defended.
Thank you.
Follow us on Twitter, Facebook and Google News
