On 28 February, the Council of the European Union has approved a medium-term budget review until 2027, including the establishment of the Ukraine Facility mechanism, a four-year assistance plan worth €50 billion.

Source: Council of the EU and the Ministry of Finance of Ukraine, as reported by European Pravda

Details: The Council of the European Union makes the final decision on changes to the EU’s medium-term budget. They will take effect once published in the EU’s Official Journal, which should happen within the next few days.

According to the Ministry of Finance, the Ukraine Facility is a tool for supporting Ukraine’s economic development and recovery, and Kyiv will receive financial assistance on the basis of jointly agreed plans and priorities between the Ukrainian government and the European Commission.

Background:

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