European Parliament approves €50 bln aid package for Ukraine

The European Parliament has banked an aid package for Ukraine, amounting to 50 billion euros over four years, with 536 MEPs voting in favor of extending assistance, while 40 opposed it, and 39 abstained.

A statement released by EP on Tuesday reaffirmed the European Union’s “unwavering support” for Ukraine, pledging ongoing assistance for “as long as necessary”.

The decision follows the agreement reached by EU leaders on February 1 to provide macro-financial assistance to Ukraine, marking a breakthrough despite prolonged opposition from Hungary.

During her visit to Kyiv on February 24, the President of the European Commission, Ursula von der Leyen, announced the initial installment of aid would be dispatched in March, although the exact amount was not specified.

The Ministry of Economy of Ukraine has expressed hope in receiving approximately four and a half billion euros from the European Union in the upcoming month.