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Von der Leyen: EU aims to start payments of $54 billion Ukraine Facility fund in March

by Nate Ostiller and The Kyiv Independent news desk February 6, 2024 11:24 AM 1 min read
European Commission President Ursula von der Leyen (R) sits next to President Volodymyr Zelensky at the Davos forum in Switzerland on Jan. 16, 2024. (President's Office)
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The EU aims to begin payments from the 50 billion euro ($54 billion) Ukraine Facility fund in March, said European Commission President Ursula von der Leyen on Feb. 6.

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 European Parliament and the Council of the EU concluded a preliminary agreement on Feb. 5  regarding the 50 billion euros ($54 billion) for the Ukraine Facility, the Council's press service said earlier on Feb. 6.

"Last night’s political agreement on the 50 billion euro ($54 billion) Ukraine Facility is a major step forward," said von der Leyen.

"We will continue to deliver much-needed funding and predictability for our brave partner (Ukraine) and aspiring member. We aim to start payments in March."

The 50 billion euro ($54 billion) sum, which is part of a broader EU budget called the Multiannual Financial Framework (MFF), is split between 33 billion euros ($35.5 billion) in loans and 17 billion euros ($18.3 billion) in grants.

BREAKING: All 27 EU leaders agree on 50 billion euro aid package for Ukraine
All 27 leaders of EU member states agreed on an additional 50 billion euro support package for Ukraine within the EU budget, European Council President Charles Michel announced on Feb. 1.
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