The European Parliament has supported the creation of a €50B Ukrainian Fund.

At the plenary session of the European Parliament in Strasbourg, the deputies overwhelmingly supported the proposals for creating the Ukrainian Fund in the first reading. The fund should include €50B in financial aid for Ukraine over the next four years.

“This is a long-term and ambitious project that we are starting right now, even though the war is not yet over, because we are ready to work together with Ukraine on its European future. We support Ukraine during the war. We will continue to support it during the recovery,” Member of the European Parliament Michael Gahler said the day before during a debate.

At the same time, he emphasized the need for a “master plan to be developed by the Ukrainian government together with local authorities and civil society,” as well as coordinated legislative work with the Ukrainian Parliament.