Yesterday at 19:58
The EU elaborated on the long-awaited decision to provide €50 billion to Ukraine in 2024-2027 and established the Council of the European Union as an institution mostly responsible for running the programme for Ukraine.
This was reported by Ukrainian Pravda as they condluded the result of the EU summit on February 1.
“On the basis of the Commission annual report on the implementation of the Ukraine Facility, the European Council will hold a debate each year on the implementation of the Facility with a view to providing guidance.”
The EU leaders also consider relevant measures to protect the financial interests of the Union, in particular regarding the prevention, detection and correction of fraud, corruption, conflicts of interests and irregularities will be taken.
The decision to debate the programme and revise the funding in two years is a compromise to appease Viktor Orbán, Hungarian Prime Minister, who threatened to veto the package. According to Politico, Italian Prime Minister Giorgia Meloni and French President Emmanuel Macron contributed the most to Orbán’s decision to support sending €50 billion in aid to Ukraine as they held regular talks with him months before the summit on February 1.
Ukrainian Foreign Minister Dmytro Kuleba confirmed that Hungary will not get a chance to veto disbursement of funds each year.
“We have a multi-year financial instrument, and the problem of overcoming the veto has disappeared – it will not happen,” stated Kuleba.
Read also: All 27 EU leaders agree on a €50 billion aid package for Ukraine — Charles Michel
