The European Parliament has supported the European Commission’s initiative to create a EUR 50 bln fund to help Ukraine

This is a new instrument called the Ukraine Facility, which will allocate EUR 50 bln over 2024-2027 in grants and loans to support Ukraine’s recovery, reconstruction and modernisation.

Negotiations with EU countries will begin as soon as the EU Council agrees on a common position. One of the key demands of MEPs is to use the frozen assets of the russian federation to rebuild Ukraine, as well as safeguards against corruption, fraud and other violations in the use of European funds in Ukraine.

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