President Volodymyr Zelenskyy welcomed the decision of EU leaders to approve a multi-year aid program for Ukraine worth 50 billion euros. He also called for the creation of an aid fund for Ukraine within the framework of the European Peace Fund.
He said this during his speech before the European Council.
"Today we need your unity regarding the creation of the Ukraine Assistance Fund within the framework of our European Peace Fund. This is the kind of reliability and long-term support that now needs to be challenged. At least 5 billion euros per year, for a period of four years. A clear priority ," said Zelensky.
The President noted that during his visit to Switzerland in January, an agreement was reached on the organization of the 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 say its word, and Europe's word must always be valid, reliable and implemented in concrete decisions. Today, Europe is sending a signal across the Atlantic and around the world that the rules-based international world order will withstand all challenges. Europe sets the tone in global processes with its unity. Now this is a fact. And it should 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 Ukraine with 50 billion euros for 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 for covering risks in priority sectors, covering interest on loans, etc.
The decision was taken unanimously, although, according to the media, the EU had to compromise in order to persuade Hungary to do so.
The next stage after approval by the EU leaders will be the definition of the final terms of the program within the trialogue between the European Council, the European Commission and the European Parliament. The final regulation must be adopted by the European Parliament during the plenary session scheduled for February 26-29, 2024.
The Government of Ukraine expects to receive the first payment under the Ukraine Facility program in March of 4.5 billion euros.
