The European Union intends to allocate funds for aid to Ukraine by the end of March 2024.
The news was announced by Euractiv.
EU leaders plan to hold a summit on February 1 to agree on the bloc’s budget and approve a €50 billion aid package to Ukraine for the next four years.
In the event Hungary once again blocks the decision, the European Union has developed an alternative plan, worth up to €20 billion, using a debt structure that sidesteps the objections of Hungary’s Prime Minister Viktor Orbán.
In addition, according to Euractiv, the EU has several more backup options on the table to secure financial aid to Ukraine over 2024.
It was said that, regardless of the final modalities, the EU has promised Kyiv it will provide funding by March at the latest.
What was earlier
The European Commission previously proposed to allocate €50 billion in aid to Ukraine for 2024–2027. Leaders of the EU countries discussed this initiative at the December 14–15 summit. However, Hungary vetoed the decision.
EU officials may suspend Hungary’s voting rights under Article 7 of the EU Treaty to approve the €50 billion aid package for Ukraine.
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