President Volodymyr Zelenskyy welcomed the decision of EU leaders to approve a multi-year program of assistance to Ukraine worth 50 billion euros. He also called for the creation of a fund to assist Ukraine within the framework of the European Peace Fund.
He said this during a speech before the European Council.
"Today, we need your unity in creating the Ukraine Assistance Fund within the framework of our European Peace Fund. This is the kind of reliability and long-term support that we now need to counter the corresponding challenges. No less than 5 billion euros per year, a term of four years. A clear priority ," Zelenskyy said.
The President noted that during his visit to Switzerland in January, an agreement was reached to organize a Global Peace Summit. Work on the organization has already begun. And Zelensky invited EU leaders "to actively participate in the preparation of the summit.".
"Europe must have its say, and Europe's word must be consistently strong, reliable and implemented in concrete decisions. Today, Europe is sending a signal across the Atlantic and around the world that the international world order, based on rules, will withstand all challenges. Europe sets the tone in global processes with its unity. This is now a fact. And it must remain so ," he added.
€50 billion for Ukraine
At the EU summit on February 1, all 27 EU leaders agreed on a multi-year aid package for Ukraine — the Ukraine Facility. The program provides for the provision of 50 billion euros to Ukraine over the period 2024-2027. Of this amount, 39 billion euros will be directed to the state budget to strengthen macro-financial stability. The rest is a special investment instrument to cover risks in priority sectors, cover interest on loans, etc.
The decision was made unanimously, although, according to media reports, the EU had to make compromises to persuade Hungary to do so.
The next step after approval by EU leaders will be to define the final terms of the programme in a trilogue between the European Council, the European Commission and the European Parliament. The final regulations are to be adopted by the European Parliament during its plenary session scheduled for 26-29 February 2024.
The Ukrainian government expects to receive the first payment under the Ukraine Facility program of 4.5 billion euros in March.
