The government explained the importance of the EUR 50 billion support program for Ukraine approved by the EU
Kyiv • UNN
The EU has approved a new €50 billion support program over four years to help Ukraine secure financial stability and implement priority social and defense programs.
The new four-year EUR 50 billion support program for Ukraine approved by the EU will help the Ukrainian government ensure financial stability and implement priority budget expenditures. This was announced by Prime Minister Denys Shmyhal during a government meeting, UNN reports.
Details
Shmyhal reminded that on February 1, the European Union approved a new four-year support program for Ukraine worth 50 billion euros. Of this amount, 39 billion euros will be used to support the state budget of Ukraine.
This will help our Government to ensure financial stability and carry out priority budget expenditures, including all social programs to help our people
He added that the approved Ukraine Facility program provides for EUR 8 billion in the form of a special investment instrument. According to the Ministry of Economy, this will attract an additional EUR 30 billion in investments.
The Ukraine Facility program is not only about money, but also about transforming our country. It is a plan to implement European rules and regulations that bring us closer to EU membership
The Prime Minister noted that all 27 EU member states had voted in favor of this program of support for Ukraine. According to him, this is a demonstration of Europe's unity in supporting Ukraine and a clear signal to Russia that the strategy of waiting until the support of Ukraine's allies stops will not work.
In addition, European leaders have confirmed their intention to continue military support for Ukraine. In particular, in March we expect to create a separate instrument for Ukraine within the European Peace Fund. We are talking about 20 billion euros of military support for the next 4 years
Shmyhal also noted the EU's position on the use and confiscation of frozen russian assets.
Two years of work and constant advocacy by a large team of Ukrainians, and today European leaders confirm the plan to use the proceeds of frozen Russian assets. We welcome this decision, but Ukraine sees it only as a first intermediate step towards confiscation, not as an alternative to confiscation
He emphasized that the Cabinet of Ministers and its partners will continue to work to ensure that russian assets are fully directed to Ukraine's resilience and recovery.