Ukraine welcomes the European Council's decision in principle to establish a €50 billion Ukrainian Fund for 2024-2027. This was reported by the press service of the Ministry of Foreign Affairs of Ukraine.
"The Ministry of Foreign Affairs of Ukraine welcomes the summit's decision in principle to establish the Ukraine Facility in the amount of 50 billion euros for 2024-2027. This is a clear signal that the EU's financial support for Ukraine will continue," the statement said.
It is expected that all the necessary legal procedures will be completed in January 2024, which will allow the relevant funding to be received as soon as possible.
"50 billion euros allocated by the EU for Ukraine will be used, in particular, to maintain macroeconomic stability, restore and modernize our country, as well as accelerate integration into the EU," the statement said.
In addition, the Foreign Ministry called for the approval of the new eighth tranche of aid under the European Peace Fund as soon as possible.
"We support the European Council's proposal to accelerate work on reforming the EPF and increasing its funding to best meet Ukraine's military needs," the statement said.
The ministry hopes to quickly agree on a mechanism for using Russian frozen assets to restore Ukraine, as well as directing them to Ukraine's needs, in particular through the Ukraine Facility.
