European Parliament Votes for 50bn Euros for Ukraine

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At the plenary session on Tuesday, the European Parliament approved a 50bn-euro macro financial support package for Ukraine. The decision was adopted with 536 votes for, 40 MPs were against and 39 abstained. On 1 February, EU leaders overcame Hungary’s prolonged resistance and reached an agreement on the allocation of 50bn euros macro financial assistance to Ukraine. The program is designed for four years. The European Parliament’s profile committees backed the decision to set up the aid program on 22 February. European Commission President Ursula von der Leyen said that the EU expected to provide the first funds to Ukraine in March. The government also said earlier that Ukraine expected to receive the first tranche of 4.5bn euros macro financial support from the EU under the Ukraine Facility program in March.