European Parliament votes to establish €50bn Ukraine Fund
Members of the European Parliament supported in the first reading the creation of a €50 billion fund to meet Ukraine’s long-term needs in 2024-2027.
This is stated in a statement on the website of the European Parliament, Censor.NET reports.
MEPs voted in favour of an improved proposal to allocate 50 billion euros for the restoration, reconstruction and modernisation of Ukraine in the period 2024-2027.
"The initiative was voted in favour by 512 MEPs, 45 voted against and 63 abstained.
"MEPs call for strengthening democratic accountability within the mechanism and urge Ukraine to preserve the multiparty nature of its democratic state system and to meet the requirements of EU membership," the statement said.
It is noted that the creation of this fund is part of the revision of the EU's long-term budget, which needs to be adjusted as it is "significantly depleted due to the numerous crises the EU has faced since 2021".
MEPs insist that the fund for Ukraine should be approved as soon as possible as part of the budget revision, as no assistance is foreseen for Ukraine after the end of 2023.
