European Parliament supports allocation of €50 billion for Ukraine

The European Parliament has approved the allocation of a €50 billion macro-financial assistance package to Ukraine by a majority vote.

As reported by the press service of the European Parliament, at the plenary session on 27 February, the decision was adopted with 536 votes in favour. 

A total of 40 European deputies were against, while 39 abstained from voting.

On 1 February, EU leaders overcame Hungary's long-standing opposition and reached an agreement on allocating €50 billion of macro-financial assistance to Ukraine. The programme is designed to run for four years.

On 22 February, the European Parliament committees supported the decision to create a multi-year financial assistance programme for Ukraine amounting to €50 billion. 

Ursula von der Leyen, President of the European Commission, said that the EU expects to provide the first tranche of funds to Ukraine in March.

Earlier, the Ukrainian government also indicated that Ukraine expects to receive the first tranche of macro-financial support payments from the EU, in the amount of €4.5 billion, under the Ukraine Facility programme in March.