Agreement of EU27 on the mid-term revision of the multiannual financial framework and EUR 50 billion support for Ukraine

EU leaders reached an agreement on the mid-term revision of the EU's multiannual financial framework and approved EUR 50 billion for the Ukraine facility in the special European Council meeting on the 1st of February.

In December 2023, 26 out of 27 EU Member States agreed on the content of the mid-term revision of the multiannual financial framework. The additional EU funding, now accepted by all the 27 EU Member States, will amount to EUR 64.6 billion over four years. The funding for the Ukraine Facility consists of EUR 17 billion in grants and EUR 33 billion in loans. This is the first time Ukraine will be receiving direct grants in addition to loan-based support.

The European Council also agreed that, if necessary, it would invite the Commission to review the Ukraine Facility in two years’ time. This would take place when considering the Commission’s proposal for the next financial framework period.

I a press conference Prime Minister Petteri Orpo expressed satisfaction for the meeting result: “Today’s decision by the 27 EU member states is a big achievement that demonstrates unity and sends a strong signal of support: the EU stands firmly by Ukraine.”

President of Ukraine Volodymyr Zelenskyy thanked the European Council for approving the support via video connection.

The EU leaders also reiterated the need to speed up the production of munitions and their delivery to Ukraine.

More over, the leaders also discussed external relations, especially the situation in the Middle East.

In addition they discussed challenges in the agricultural sector, including concerns raised by farmers, stressing the essential role of the common agricultural policy.
 

Sources:

Finnish Prime Minister's Office press release(Link to another website.)

European Council meeting results(Link to another website.)