EUR 50B for Ukraine: von der Leyen says payments kicking off in March

The EU plans to start financial disbursements to Ukraine in March as part of the political agreement on the allocation of EUR 50 billion to the war-torn nation.

European Commission President Ursula von der Leyen announced this on the X social network, Ukrinform reports.

"Last night’s political agreement on the €50 billion Ukraine Facility is a major step forward. Europe is true to its word. We will continue to deliver much-needed funding and predictability for our brave partner and aspiring member. We aim to start payments in March," she wrote.

Prime Minister Denys Shmyhal of Ukraine congratulated the European Parliament and the Council of the European Union on reaching a political agreement on the creation of the Ukraine Facility program.

"This is another important step toward approving the initiative. Within this financial instrument, Ukraine will receive EUR 50 billion over four years. The European Union once again proved that it is united in its steadfast support for Ukraine in the fight against Russian aggression," the Ukrainian Prime Minister wrote on Telegram.

According to PM Shmyhal, in this way the EU demonstrates its critical role in reconstruction and modernization and confirms that it will support Ukraine for as long as it takes.

As reported, on June 20, 2023, the European Commission proposed a revision of the multi-year EU budget for 2021-2027, including the creation of the Ukraine Facility and the Strategic Technologies Program for the European Platform.

The leaders of all 27 EU countries unanimously supported the Ukraine Facility setup during a special meeting of the European Council on February 1, 2024.

Photo: President’s Office