On Wednesday, February 28, the Council of the European Union approved the medium-term review of the budget until 2027, which provides for the establishment of the Ukraine Facility mechanism - a four-year aid plan worth 50 billion euros.

This was reported by the Ministry of Finance of Ukraine.  

The Ministry of Finance reminded that the Ukraine Facility is an instrument for supporting the economic development and recovery of Ukraine, within the framework of which Kyiv will receive financial assistance "on the basis of jointly agreed plans and priorities" of the Ukrainian government and the European Commission. 

During 2024-2027, Ukraine will receive about 39 billion euros of direct budget funding, of which more than 5 billion are grants. 

The decision of the Council of the European Union is the last step for approving changes to the medium-term budget of the EU.

They will enter into force after publication in the EU Official Journal, which should take place within the next few days.

We will remind you that on February 26, the European Parliament supported the decision regarding 50 billion euros in aid to Ukraine.