PM Shmyhal about EUR 50B from EU: All 27 countries tentatively agree to support programme

Prime Minister Denys Shmyhal said this at a government meeting, Ukrinform reports.

According to the Prime Minister, the Government continues its work to raise funds from partners and allies in order to finance all priority payments of the state budget.

“On 1 February we expect the EU to approve a new four-year EUR 50 billion assistance programme for Ukraine – the Ukraine Facility. Tentatively, we can say that all 27 EU members have agreed to support this programme,” the Prime Minister said.

According to the Prime Minister, Ukraine expects this year that the EU will be able to provide financial assistance at the level of 2023. In order to cover the budget deficit, it is important to attract about EUR 18 billion from the European Union.

In addition, Shmyhal noted that U.S. President Joe Biden's administration intends to provide Ukraine with USD 11.8 billion in budget support this year.

“We expect a positive decision of the U.S. Congress on this issue in the near future,” the Prime Minister said.

Another important decision from Washington is the approval by the U.S. Senate Foreign Relations Committee of a bill that will allow the confiscation of Russian assets and their transfer to strengthen Ukraine’s resilience and reconstruction.

Shmyhal stressed that the parties were doing everything possible to make the relevant mechanism work this year, both in the U.S. and in other countries.

As Ukrinform reported, at the EU summit on February 1, Hungary may again veto the allocation of EUR 50 billion to Ukraine for 2024-2027, but there are three options for providing financial assistance without its consent.