European support for Ukraine
European leaders have decided that Ukraine will receive 50 billion euros from the EU over the next four years.
Sorin Iordan, 02.02.2024, 13:50
The European Union has approved 50 billion euros in aid for Ukraine over the next 4 years. The heads of state and government from the EU bloc, convened in Brussels, decided to grant Kyiv 17 billion euros in the form of non-repayable support and 33 billion in the form of loans. Hungary, which has so far opposed additional support for Ukraine, voted “in favor” this time. The Hungarian Prime Minister, Victor Orban, who, in December 2023, vetoed the financial package, was persuaded to change his position, so the European leaders unanimously revised the Unions multiannual budget, valid until the end of 2027. The budget review, totaling 64.6 billion euros, includes, among others, 1.5 billion for the Invest EU, Horizon Europe Innovation Fund and the European Defense Fund. The European Commission President, Ursula von der Leyen, said that the approval of the aid package for Ukraine sends a very strong message to the Russian leader, Vladimir Putin, and is a signal for the American partners, given that a package of approx. $65 billion for Ukraine is blocked in the US Congress since December 2023.
On his part, the European commissioner for the internal market, Thierry Breton, said that the European Union must make sure that it will increase, at a very fast pace, the production capacity of its defense industry. He pointed out that what was done in the ammunition production sector must be extended to the entire European military field. We are lucky enough in Europe, to be able to do everything in defense, but not always at the right time, so proper defense training is the paradigm shift that we need to implement, throughout our profile industry, said Thierry Breton. We started with ammunition, we made a commitment to make sure that we can improve our production, so that we can give Ukraine what it needs, he also said. I, in my position, cannot ensure the delivery of the ammunition to Ukraine, but what I can do is to ensure that the defense industry increases its production capacity, Thierry Breton concluded. The European Commissioner also asked the European Investment Bank to get involved in the financing of the defense industry, because, in his view, the institutions role is to support European policies, of which defense is currently a crucial element of these policies.
The news that the European Union continues its support for Ukraine was received with relief and gratitude in Kyiv. The Ukrainian president, Volodymyr Zelensky, thanked the leaders of the EU countries and emphasized the importance of the fact that the decision belonged to all 27 of them, which, in his opinion, once again proves the strong unity of the EU bloc. Zelensky voiced his belief that this continuation of the EUs financial support will strengthen the countrys economic and financial stability in the long term, which will allow it to resist Russias military aggression. (EE)
