Today’s news / EU – Ukraine

EU – Ukraine

On February 1, EU heads of state or government are due to agree on a model for the EU’s long-term financial support to Ukraine. The funding will ensure that Ukraine can afford to pay for schools and hospitals in the coming years while the war continues. Originally planned to reach an agreement at the December summit, Hungary balked at the European Commission’s proposal of €50 billion over four years. Therefore, the item had to be postponed. However, according to the director of Think Tank Europa Lykke Friis, there are growing signs that a solution can be found at the extraordinary EU summit on 1 February. She points out that there are now two solutions in play. Hungary, according to the media outlet Politico, has floated the idea that not all the money is allocated over the four-year period. Instead, Hungary wants the aid to be granted for only one year. Under this plan, Ukraine will receive EUR 12.5 billion in aid and loans each year. This amounts to EUR 50 billion over four years, which is in line with the European Commission’s proposal. /ritzau/