EU leaders agrees €50 billion support package for Ukraine

All 27 European leaders have agreed on an additional €50 billion support package for Ukraine within the EU budget, as they gathered today in Brussels for a special European Council to discuss the mid-term revision of the EU’s long-term budget for 2021-2027, including support to Ukraine.

“We have a deal,” European Council President Charles Michel announced on X. “This locks in steadfast, long-term, predictable funding for Ukraine.”

He added the EU was taking leadership and responsibility in support for Ukraine: “We know what is at stake.”

The €50 billion package for Ukraine – the Ukraine Facility – should consist of €17 billion in grants and €33 billion in loans. It was proposed by European Commission President Ursula von der Leyen in June 2023 to provide predictable finance to Ukraine on its EU path and to the EU budget dealing “with crisis after crisis”.

At the European Summit held in Brussels on 14-15 December 2023, it was decided to postpone the decision on the allocation of aid to Ukraine until the new year.

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