Skip to content
Edit post

European Parliament approves 50 billion euro package for Ukraine

by Elsa Court and The Kyiv Independent news desk February 27, 2024 1:42 PM 2 min read
The European Parliament in Brussels, Belgium on Feb. 24, 2024. (Dursun Aydemir/Anadolu via Getty Images)
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

The European Parliament voted to approve the 50 billion euro ($54 billion) funding package for Ukraine, known as the Ukraine Facility, as part of the EU budget on Feb. 27.

The package provides funding to Ukraine from 2024 to 2027, with 33 billion euros ($35.8 billion) available in loans and 17 billion euros (18.5 billion) in grants.

After months of obstruction by Hungary, European leaders agreed on the four-year financing for Kyiv during a European Council summit on Feb. 1.

The Ukraine Facility was approved in the European Parliament with 536 votes in favor, 40 against, and 39 abstentions.

After the European Council agreed to the financing, members of the European Parliament (MEPs) negotiated the establishment of a "Ukraine Facility Dialogue," the parliament said.

This guarantees that MEPs will have "regular discussions with the (European) Commission every four months on the progress and implementation of the Facility, fostering greater transparency and democratic oversight."

The European Parliament also strengthened the involvement of the Verkhovna Rada, Ukraine's parliament, which "has significantly enhanced the democratic legitimacy of the Facility in Ukraine."

Grants make up 33% of the funding of the Ukraine Facility, "with at least 20% dedicated to the recovery, reconstruction, and modernization of Ukraine's sub-national authorities such as regions, cities, and local communities," according to the European Parliament.

"Another 20% of the Facility's investments will be earmarked for green initiatives, and 15% of support directed towards small and medium-sized enterprises."

Ukraine's Prime Minister Denys Shmyhal said he was grateful to MEPs and the European Parliament President Roberta Metsola "for their solidarity with the Ukrainian people" and "determination to support Ukraine."

Our readers’ questions about the war, answered. Vol. 5
Editor’s note: We asked members of the Kyiv Independent community to share the questions they have about the war. Here’s what they asked, and how we answered. Join our community to ask a question in the next round. Read our previous answers here, here, here, and here. Question: What is
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
10:26 PM

Senate Democrats back Johnson's foreign aid bills.

Senate Majority Leader Chuck Schumer said on April 19 that Senate Democrats will support House Speaker Mike Johnson's series of bills that includes aid for Ukraine, Israel, and other priorities if they pass the House.
10:01 PM

Russian attack on Kherson kills 80-year-old woman.

In a post on Telegram, the head of the city's military administration, Roman Mrochko, said the victim was walking the streets when she was hit in an attack launched from the occupied east bank of Kherson.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.