Copyright © 2024 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

EU parliament backs €50 billion for Ukraine’s recovery

The EU Parliament greenlights €50 billion for Ukraine’s recovery, emphasizing urgent adoption, democratic accountability, and proposing Russian assets fund reconstruction, aiming to modernize the nation by 2027.
European_Parliament_Strasbourg_Hemicycle_-_Diliff.jpg
Session of the European Parliament in Strasbourg. Source: Wikimedia Commons
EU parliament backs €50 billion for Ukraine’s recovery

On October 17, the European Parliament voted to allocate 50 billion euros in financial aid to Ukraine over the next four years to “support Ukraine’s recovery, reconstruction and modernisation from 2024” to 2027.

The Parliament’s website said 512 MEPs supported the proposal:

“Parliament’s stance on the proposed Ukraine Facility was adopted with 512 votes in favour, 45 against and 63 abstentions, with MEPs making the Facility more democratically accountable, encouraging multiparty democracy and Ukraine’s alignment with the requirements for EU accession,” the Parliament’s press release reads.

According to the press release, one of MEPs’ key demands is that assets from Russia or other entities or individuals directly connected “with Russia’s war of aggression be used to reconstruct Ukraine.”

MEPs have ensured that this facility is transparent and democratically accountable. They are pushing to create a dedicated web portal to monitor financial operations granted to Ukraine. To ensure the funds are used judiciously and transparently, the parliament has tightened provisions against fraud, corruption, and conflicts of interest in the use of these funds. Companies under oligarchic influence are explicitly excluded from receiving this funding.

MEPs have articulated their vision of ensuring Ukraine aligns with the EU’s democratic values. They wish for the country to establish a plan for reforms and investments with the EU Parliament’s involvement and consult the Verkhovna Rada (Ukrainian Parliament) effectively. As the Council agrees on a common position, negotiations with the member states are set to kickstart soon.

Read also:

 

 

 

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here



    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts