European Parliament backs creation of EUR 50 bln facility for Ukraine

15:51, 03.10.2023 1 min read

The European Parliament (EP) has voted to review the EU budget for 2021-2027 by creating a EUR 50 billion facility for the assistance to Ukraine.

According to the press service of the EP, the interim report on the proposal for a mid-term revision of the Multiannual Financial Framework (MFF) 2021-2027 was approved by 393 votes against 136 and 92 abstentions.

"Our goal was an ambitious but realistic proposal for the MFF revision and we have managed to keep it targeted but comprehensive. We aim to stabilize Ukraine's situation with a new EUR 50 billion facility while bolstering the EU's economy," MEP Jan Olbrycht said.

MEP Margarida Marques, for her part, said that today, the Parliament outlined the financial resources required for the upcoming four years.

"We urge the Council to join us in negotiations. By 31 December 2023, we want to have in place adequate means to support Ukraine and continue mitigating the war's social and economic impact, along with rising inflation and the cost of living crisis," she said.