Last updated: 13:10
EU leaders unanimously agreed to provide Ukraine with 50 billion euros in aid on Thursday, with European Council President Charles Michel overriding Hungarian objections.
“We have an agreement. Unity,” President Charles Michael said in a post on Platform X. “All 27 leaders reached agreement on an additional €50 billion support package for Ukraine under the EU budget.”
“It locks in stable, long-term and predictable funding for Ukraine. The EU is taking leadership and responsibility in supporting Ukraine. We know what's at stake.”
We have an agreement. #Unity
All 27 leaders agreed to an additional €50 billion support package for Ukraine in the EU budget.
This locks in stable, long-term, predictable funding #Ukraine.
The EU assumes leadership and responsibility in support of Ukraine; We know what…
— Charles Michel (@CharlesMichel) February 1, 2024
The deal comes after weeks of sparring with Hungarian Prime Minister Viktor Orbán, who vetoed the aid package in December.
What does the text of the conclusions of the summit where the 27 leaders agreed on financing Ukraine say?
“On the basis of the Commission's annual report on the implementation of the Ukraine Facility, the European Council will hold an annual debate on the implementation of the Facility with a view to providing guidance. If necessary, the European Council will invite the Commission every two years to submit a proposal for a review in the context of the new multiannual financial framework and of the conclusions reached by the “27” leaders of the Member States of the European Union. The text says Ukraine will receive 50 billion euros in aid under a multi-year financial framework after Hungarian Prime Minister Viktor Orbán's objections were overruled.
Despite the deal, EU funds for Hungary will remain frozen
Meanwhile, a European diplomat told Reuters that EU funding for Hungary would be frozen regardless of an aid deal for Ukraine by EU member states.
Kiev welcomed the deal
Ukrainian President Volodymyr Zelensky said on Thursday that the European Union's approval of an aid package for Ukraine would boost long-term economic and financial stability as the war with Russia enters its third year.
Ukraine expects 4.5 billion euros in the first tranche in March, the country's finance ministry said.
Ukrainian Prime Minister Denis Shmyhal welcomed the EU's decision to approve an extra 50 billion euros in aid to his country over four years, calling it a “contribution” to the “common victory” against Russia.
“EU member states have once again demonstrated their unity and solidarity in action by helping the Ukrainian people to endure the war,” Smigel wrote to X. “Each of your votes is an important contribution to our common success.” , he emphasized.