The EU Council and the European Parliament have reached a preliminary agreement on the creation of a new instrument to support the recovery, reconstruction and modernization of Ukraine, Ukraine Facility, worth €50 billion over the period 2024-2027. The preliminary agreement is subject to approval by these bodies. This is reported on the website of the EU Council.


"The EU is ready to support Ukraine for as long as it takes. The Ukraine Fund will allow us to provide consistent and predictable support to Ukraine to help its people rebuild their country amid the unprecedented challenges caused by Russia's aggressive war. At the same time, the support will help Ukraine to advance the reforms and modernization efforts it needs to move forward on its path to future EU membership," said Vincent van Peteghem, Belgian Minister of Finance.