The European Union plans to start disbursing the €50 billion in funding to Ukraine as early as March. This was announced by the President of the European Commission Ursula von der Leyen.
She said that a political agreement on these payments had been reached last night. Von der Leyen assured that Europe is true to its word.
"We will continue to provide much-needed funding and predictability for our courageous partner and membership candidate. We plan to start disbursements in March," she said.
The agreement in question was concluded between the European Parliament and the European Council, Politico reports.
At the European Council summit on 1 February, all 27 EU member states agreed to provide Ukraine with €50bn. The main obstacle was Hungary, which had already vetoed the funds in December. Prime Minister Viktor Orbán demanded that EU leaders vote every year to extend the payments to Ukraine. This would give him the opportunity to blackmail the EU with his veto every year. As a result, Brussels and Budapest reached a consensus: every year the EU will have a debate on whether to extend the aid, and in two years, if necessary, the programme of support for Ukraine will be reviewed.