European Union leaders have reached an agreement to establish a 50 billion euro fund for Ukraine, overcoming the primary obstacle posed by Prime Minister Viktor Orban of Hungary. The president of the European Council, Charles Michel, announced the agreement on social media, emphasizing the unity of all 27 leaders in supporting Ukraine. The fund, valued at about $54 billion, will provide steadfast, long-term, and predictable funding for Ukraine, with the EU taking leadership and responsibility in the support for Ukraine. The details of what Mr. Orban received in exchange for giving up his veto for the fund are not immediately clear. However, his demand for an annual chance to veto the disbursement of money to Ukraine was rejected, and instead, EU leaders agreed to a regular review of the fund’s spending to address concerns about diversion or corruption.
Source: www.nytimes.com
Published on: 2024-02-01 05:55:48